Aurora Cannabis Inc. (ACB) Gains But Lags Market: What You Should Know
Aurora Cannabis Inc. (ACB) closed at $5.58 in the latest trading session, marking a +0.18% move from the prior day. The stock lagged the S&P 500's daily gain of 0.66%. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 0.38%.
Prior to today's trading, shares of the company had lost 10.88% over the past month. This has lagged the Medical sector's loss of 3.19% and the S&P 500's loss of 5.01% in that time.
ACB will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.02, down 115.38% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $79.02 million, up 432.49% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ACB. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 2.7% higher. ACB is currently a Zacks Rank #4 (Sell).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 24% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Click to get this free report
Aurora Cannabis Inc. (ACB): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.