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

In the latest trading session, Aurora Cannabis Inc. (ACB) closed at $12.04, marking a +0.67% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.72%. At the same time, the Dow lost 0.57%, and the tech-heavy Nasdaq lost 0.87%.

Prior to today's trading, shares of the company had gained 22.92% over the past month. This has outpaced the Medical sector's gain of 3.28% and the S&P 500's gain of 4.69% in that time.

Investors will be hoping for strength from ACB as it approaches its next earnings release. On that day, ACB is projected to report earnings of -$0.20 per share, which would represent year-over-year growth of 90.74%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $53.89 million, up 26.96% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.17 per share and revenue of $225.46 million. These totals would mark changes of +59.09% and +8.49%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.33% lower. ACB is currently sporting 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 217, which puts it in the bottom 15% 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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