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Aurora Cannabis Inc. (ACB) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

In the latest trading session, Aurora Cannabis Inc. (ACB) closed at $2.12, marking a -0.93% move from the previous day. This change lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 1.68%, and the Nasdaq, a tech-heavy index, added 0.43%.

Coming into today, shares of the company had gained 16.94% in the past month. In that same time, the Medical sector gained 2.11%, while the S&P 500 gained 2.1%.

Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. On that day, ACB is projected to report earnings of -$0.04 per share, which would represent no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $62.22 million, up 51.76% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.14 per share and revenue of $293.91 million. These totals would mark changes of +36.36% and +48.39%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for ACB. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.81% lower within the past month. ACB is currently sporting a Zacks Rank of #3 (Hold).

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ACB in the coming trading sessions, be sure to utilize Zacks.com.

Click to get this free report Aurora Cannabis Inc. (ACB) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research