ACB - Aurora Cannabis Inc.

NYSE - NYSE Delayed Price. Currency in USD
7.05
-0.05 (-0.70%)
At close: 4:00PM EST
Stock chart is not supported by your current browser
Previous Close7.10
Open7.26
Bid7.04 x 3100
Ask7.07 x 800
Day's Range7.00 - 7.28
52 Week Range4.05 - 12.52
Volume16,938,287
Avg. Volume19,166,693
Market Cap6.999B
Beta (3Y Monthly)2.29
PE Ratio (TTM)32.64
EPS (TTM)0.22
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Trade prices are not sourced from all markets
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  • InvestorPlace3 days ago

    Tilray Stock’s Quarter Will Be Seriously Judged, Like Its Rivals

    If you own a stake in Tilray (NASDAQ:TLRY) and want to know what's going to make or break Tilray stock following its upcoming quarterly earnings report, look no further than the responses to quarterly reports from rivals Aurora Cannabis (NYSE:ACB) and Canopy Growth (NYSE:CGC). Investors, professionals and amateurs alike, have already indicated what annoys and delights them.There's no certainty as to when that announcement might be made, to be clear. Given the company's prior announcement cadence, it was widely presumed the news would drop on Feb. 13. It didn't.Also noteworthy is the timing of Canopy Growth's report, which was posted late in the night on Feb. 14, just beating its regulatory deadline. Tilray's post could surface at any time, without warning, if Canopy's timing is any indication.InvestorPlace - Stock Market News, Stock Advice & Trading TipsEvery hour between now and when that happens, though, is an hour owners of TLRY stock can use to better figure out what's making pot stocks tick. Cannabis Industry's Hot ButtonsThe responses to the quarterly numbers for the cannabis industry's most recognizable names thus far has been mixed. * 10 Hot Stocks Leading the Market's Blitz Higher More than that, however, it has been surprisingly muted given the mania that surrounded these names in the latter half of last year. Canopy Growth stock was up measurably but modestly on Friday following Thursday evening's post, while shares of Aurora Cannabis have slumped somewhat since delivering last quarter's numbers on Monday, Feb. 11.The market has made it clear how it's judging marijuana stocks, however. Chief among the concerns? Believe it or not, profitability … sort of.Nobody really expected any cannabis startup to turn a GAAP profit last quarter, even though Canada's legalization in October led to triple-digit revenue growth. All of the key names in the business are spending briskly on acquisitions, positioning for the day when market share matters.Still, it has already become a part of the discussion. Canaccord Genuity analyst Matt Bottomley made a point of pointing out Canopy Growth's gross margins fell sequentially, from 28% to 22%.In that same vein, Cowen analyst Vivien Azer wrote "WEED [Canopy Growth's Canadian ticker] net revenues of $83 mm were up 256% sequentially, and in line with consensus, which is a relief given the meaningful miss last quarter. The offset, however, seems to be an absence of production efficiencies as cash COGS (cost of goods sold) / gram continued to climb, and was $5.11 in the quarter, a far cry from the $2-3 we see from WEED's peers."The fact that such matters are being discussed so soon is telling. Companies Controlling the NarrativeCanopy's $75.1 billion (Canadian) EBITDA loss was tough to overlook versus the $5.6 billion (again, Canadian) EBITDA loss suffered in the same quarter a year earlier against a backdrop of the 282% year-over-year improvement in revenue.Nevertheless, the industry has learned quickly the importance of managing perceptions. CFO Timothy Saunders redirected investors' attention to the EBITDA figure, which abated some of the company's net loss that includes stock-based compensation expense. That figure looked considerably healthier than the GAAP bottom line.Canopy's quarterly report also conceded, perhaps preemptively, that the average selling price of dried leaves fell from $8.30 (Canadian) per gram a year ago to $7.33 per gram last quarter. That company added, however, that it expects pricing to stabilize in the foreseeable future.The price declines subtly rekindle concerns that the bigger the marijuana industry becomes, the more commoditized it will become, ultimately launching a price war. Small and poorly-funded companies that spend too aggressively to secure market share may find lower pricing power makes it difficult, if not impossible, to service all their debt and justify bloated, complicated organizational structures.Aurora's official statement acknowledged the same, explaining "The decrease [in gross margin] was primarily due to a lower average selling price per gram of dried cannabis, the impact of excise taxes on medical cannabis net revenues, and a temporarily lower proportion of cannabis oil sales in the company's sales mix ratio."To that end, Aurora's gross margin on cannabis sales fell sequentially from 70% to 54%, and were down from 63% in the comparable quarter a year earlier. Like Canopy Growth though, Aurora was sure to suggest the trend was a temporary one.These organizations have already learned the importance of managing narratives. Tilray's effort to do the same will be worth noting. Looking Ahead for Tilray StockThey're metrics that seemingly hadn't mattered until now. To date, fans and followers of marijuana's legalization movement were content to let the premise of pot be enough to justify ownership of these names. Perhaps more keenly aware than usual that all of this capital consumption has to be justified sooner or later though, the market has imposed some pretty traditional criteria on the relatively young industry's stocks.As for Tilray stock, as of the latest look, the small group of analysts following it are calling for a top line of $12.8 million to lead to a per-share loss of 14 cents for the recently ended quarter.Undoubtedly investors will pass some degree of judgment based on how the company's results match up to expectations. More than that, though, it looks as if the market is already willing to weigh pot stocks on more meaningful measures like margins, pricing power and efficiency. Tilray doesn't have to turn a profit, but it does have to stack up against its competitors.That happened much sooner than it normally has for other "new" industries.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Should You Buy, Sell, Or Hold These 7 Medical Cannabis Stocks? * 7 Strong Buy Stocks With Over 20% Upside * 7 Reasons Stock Buybacks Should Be Illegal Compare Brokers The post Tilray Stock's Quarter Will Be Seriously Judged, Like Its Rivals appeared first on InvestorPlace.

  • ACCESSWIRE3 days ago

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  • InvestorPlace3 days ago

    More Marijuana Legalization Will Mean the Sky’s the Limit for Aurora Stock

    Excise tax and lower net pricing hurt quarterly results for Aurora Cannabis (NASDAQ:ACB) and although it knocked Aurora stock lower, shareholders are mostly un-phased. A ramp-up in output increase the firm's market share in Canada, which already stands at 20%, and lower cash costs will offset the near-term headwinds.Aurora Cannabis reported revenue of $29.7 million, up 55% from last year's $19.1 million. Costs of sales fell slightly by 2% while average selling prices were mixed. The average selling price of dried cannabis rose 5% while that of cannabis oil fell 10%. Even though demand outstrips supply, the firm still increased its production to 4.996 million kilograms, up 126%. * 10 Hot Stocks Leading the Market's Blitz Higher Supply, Demand and Aurora StockThe inability to output enough supply to meet strong demand hurt Aurora's revenue growth levels in the quarter. CEO Terry Booth said that if he were to lose sleep, it is due to the company's ability to supply the global cannabis market.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAlthough excise taxes hurt net pricing, the global market for cannabis is very healthy.Aurora expects prices will hold at least the $11 a gram average price. And as it offers a premium through its strong branding, prices will go up.Astute investors will ask if cannabis is in short supply globally. Overall supply is not limited, only legalized cannabis is. This is an important distinction because the bottleneck from legalization is constraining supply. So long as this imbalance exists, cannabis firms will not reach their peak revenue potential in the near-term. This is net positive for Aurora stock.The company is resolving supply constraints through assistance from its extraction partner, Radient Technologies. The Radient facility is in Edmonton and has the capability of processing 200 kilograms a day of cannabis into oil. Once the facility expands, it will process 1,000 kilograms a day. This is on top of 10,000 kilograms a day of industrial hemp. Risks and Aurora StockIf legalization is too slow, Aurora and other cannabis firms could face competition from the underground market. Fortunately, Aurora Cannabis is targeting the medical market primarily. And if positive clinical study results drive the stock's future valuation, the market will willingly assign a higher value for the stock.Canada's excise tax of 10% cost the company $3 million and had a negative impact on the net selling price. In the second quarter, dried cannabis and cannabis extract pricing was $6.23 and $10 a gram, respectively. This is due to lower wholesale pricing in the Canadian market but also the tax. The company is opposed to the tax and is absorbing the cost instead of passing it to its medical patients. OutlookAurora reiterated its positive EBITDA target for the fiscal fourth quarter, which ends in June 2019. From there, it expects the business will be operationally cash flow positive. In the near-term, it will get there by driving down costs through economies of scale. It is protecting its profit margin by maintaining its global leadership and market share in Canada.For the medium term, Aurora Cannabis will leverage its R&D activity. Vapes, CBD and infusions are higher margin products that will help the company sustain its profit margin levels. In the long term, branding will play an essential part in the company's profit margin sustainability. Valuation and Your TakeawayAccording to Tipranks, a site that aggregates Wall Street calls, the three analysts covering ACB stock have a 39% upside target on the stock. Conservative investors should notice that at a $7 stock price, the market capitalization is already at $7 billion.At an annualized rate of $200 million in revenue, the stock trades at 35 times sales. Aurora investors are buying an expensive stock, which may pay off if it delivers on long-term revenue growth.Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Should You Buy, Sell, Or Hold These 7 Medical Cannabis Stocks? * 7 Strong Buy Stocks With Over 20% Upside * 7 Reasons Stock Buybacks Should Be Illegal Compare Brokers The post More Marijuana Legalization Will Mean the Sky's the Limit for Aurora Stock appeared first on InvestorPlace.

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    Canopy Growth (NYSE:CGC) has built up a lot of excitement ahead of earnings. The marijuana sector has been on fire to start 2019. With CGC stock's strong performance, it has easily passed Tilray (NASDAQ:TLRY) to reclaim its place as North America's most valuable marijuana company. While Tilray stock is up a modest 10% year-to-date, CGC stock has surged 70% since the start of 2019.Source: Shutterstock However, this is a good time to lock in some profits on CGC stock. Signs are pointing to the company missing expectations on its earnings report. The market is likely to sell off Canopy stock following that. If you want to be involved in CGC stock here, the smart play is to wait for the stock to shake out after earnings before taking a position. Earnings: Don't Expect Big ResultsThis earnings report is not likely to be a big event for CGC stock. That's simply because legalization is too recent for sales to have really taken off yet. Aurora Cannabis (NYSE:ACB) pointed to this fact with their earnings conference call earlier this week. Aurora noted that it had sales of CAD $21.6 million in the recreational market.Aurora Chief Corporate Officer Cam Battley noted that:InvestorPlace - Stock Market News, Stock Advice & Trading Tips"Overall based on the statistics provided by Health Canada for the period October 17 to December 31, 2018, we achieved over 20% market share. Approximately one in five grams of product sold to Canadian consumers comes from one of the Aurora brands".We can figure from that statement that the overall recreational market for this past quarter was around CAD $110 million. Canopy produced just CAD $23 million in consumer revenues last quarter. Thus, the analyst expectations from Canopy of CAD $85 million for this quarter seem a bit ambitious. That would require revenues more than tripling over a three month span.Yes, recreational is operating in Canada, in addition to Canopy's other pre-existing markets. But given that the Canadian market is still so small, based on Aurora's reported results, it seems doubtful that Canopy achieved enough incremental growth to hit the analyst consensus.It's possible that CGC still tops expectations as there are a lot of moving parts. The company is building out its retail operations, for example, which could provide a significant chunk of additional revenue. Overall, however, given the sobering numbers from Aurora earlier this week, don't expect a big beat from Canopy either. An Earnings Dip Could Be A Buying OpportunityLet's be clear, in the long run, this quarter's earnings hardly matter for Canopy Growth. We're talking about a company with a market cap of CAD $21 billion ($16 billion) here. CAD $85 million is a laughably small revenue figure compared to the market cap, so it hardly matters if the company beats or misses that figure by five or ten percent.What does matter is the overall growth trajectory. How is the company doing in terms of market share? How are the retail operations going? Is the company developing strong brands and lasting relationships with its clients? That's the stuff you need to be focused on.It's worth remembering that Aurora stock initially dropped on its somewhat underwhelming earnings report but reversed course and headed higher. Analysts looked past the numbers and took a look at the outlook for the rest of 2019 and beyond.The same thing could happen with CGC stock on Friday assuming it does in fact miss earnings. Ultimately, a couple years from now, no one will care about today's earnings results. The numbers are simply too small to matter compared to the market cap.What does matter is if management can continue executing on its growth story. At the end of the day, all of these marijuana companies need revenues to go up many-fold to justify their current valuations. So, the main focus on your investment outlook for a stock like CGC should be whether they can deliver over time or not. CGC Stock VerdictI am not a fan of CGC stock heading into earnings. Shares rallied heavily on Wednesday, and are way up from recent levels. This seems like a good place to take some profits. I'd also note from a technical analysis standpoint that the stock is facing fairly heavy overhead resistance at the $50 level. CGC stock spent most of September and October trading around $50-$52 share.After the big drop last fall, CGC stock bottomed in the $20's. In January, it rallied sharply but once again the rally stopped dead in its tracks once it hit $50 level. This is clearly turning into a make or break level for the stock. That makes sense. Constellation (NYSE:STZ) invested in Canopy with the stock around $30. That effectively puts a floor on shares, since at $30, you can buy for the same price as the company's major backer. Once it gets up to $50, people who bought at $30 can sell for 67% gains. Given this technical dynamic, it'd take a great earnings report or serious positive momentum within the marijuana sector to get CGC stock over $50 in the near term. * Should You Buy, Sell, Or Hold These 7 Medical Cannabis Stocks? As such, the optimum trade for earnings to be on the sidelines heading into the report. If the company comes up short of estimates and the stock drops back toward $40, that'd be a nice place to look to buy the dip. If the stock does break out over $50 and keep going, that could set up a nice momentum trade as well. But until CGC stock breaks that level, the stock remains a risky play, particularly ahead of earnings.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. 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