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

Zacks Equity Research
·2 min read

Aurora Cannabis Inc. (ACB) closed the most recent trading day at $10.19, moving -0.78% from the previous trading session. This change lagged the S&P 500's 1.49% gain on the day. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 2.56%.

Coming into today, shares of the company had gained 3.95% in the past month. In that same time, the Medical sector gained 0.16%, while the S&P 500 gained 1.44%.

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 -$0.19 per share, which would represent year-over-year growth of 91.2%. Our most recent consensus estimate is calling for quarterly revenue of $53.76 million, up 26.65% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.15 per share and revenue of $224.76 million, which would represent changes of +59.79% and +8.16%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for ACB. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.54% higher within the past month. ACB currently has a Zacks Rank of #3 (Hold).

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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