Aurora Cannabis Inc. (ACB) Dips More Than Broader Markets: What You Should Know




  • In Tech
  • 2019-03-20 21:45:09Z
  • By Zacks Equity Research
SS&C Technologies (SSNC) Dips More Than Broader Markets: What You Should Know
SS&C Technologies (SSNC) Dips More Than Broader Markets: What You Should Know  

In the latest trading session, Aurora Cannabis Inc. (ACB) closed at $9.80, marking a -1.61% move from the previous day. This change lagged the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 0.07%.

Prior to today's trading, shares of the company had gained 43.72% over the past month. This has outpaced the Medical sector's gain of 2.03% and the S&P 500's gain of 2.14% in that time.

ACB will be looking to display strength as it nears its next earnings release. On that day, ACB is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 25%. Our most recent consensus estimate is calling for quarterly revenue of $61.42 million, up 382.06% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $224.47 million. These totals would mark changes of -241.67% and +417.53%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for ACB. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate has moved 3.7% higher within the past month. ACB is holding a Zacks Rank of #3 (Hold) right now.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Aurora Cannabis Inc. (ACB) : Free Stock Analysis Report

To read this article on Zacks.com click here.
COMMENTS

More Related News

United States Steel (X) Stock Sinks As Market Gains: What You Should Know
United States Steel (X) Stock Sinks As Market Gains: What You Should Know

Heading into today, shares of the steel maker had lost 15.77% over the past month, lagging the Basic Materials sector's gain of 4.5% and the S&P 500's gain of 2.89% in that time. X will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2019. On that day, X is projected to report earnings of $0.17 per share, which would represent a year-over-year decline of 46.88%.

Risk of U.S.
Risk of U.S. 'profit recession' eases as results beat forecasts

The initial earnings results of this reporting period are beating expectations by a wide margin, suggesting to some investors that the S&P 500 may be able to avoid a so-called "profit recession" this year because predicted economic bad news has failed to materialize. The quarter could be the trough for "this mini down cycle," said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta. The average earnings surprise so far is higher than what is typical.

Innovative Industrial Properties, Inc. (IIPR) Dips More Than Broader Markets: What You Should Know
Innovative Industrial Properties, Inc. (IIPR) Dips More Than Broader Markets: What You Should Know

Heading into today, shares of the company had lost 9.05% over the past month, lagging the Finance sector's gain of 1.71% and the S&P 500's gain of 3.16% in that time. Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. Any recent changes to analyst estimates for IIPR should also be noted by investors.

Vishay Intertechnology (VSH) Flat As Market Sinks: What You Should Know
Vishay Intertechnology (VSH) Flat As Market Sinks: What You Should Know

This move was narrower than the S&P 500's daily loss of 0.23%. This has lagged the Computer and Technology sector's gain of 4.13% and the S&P 500's gain of 3.16% in that time. Meanwhile, our latest consensus estimate is calling for revenue of $750 million, up 4.63% from the prior-year quarter.

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

Heading into today, shares of the company had lost 10.84% over the past month, lagging the Medical sector's loss of 5.45% and the S&P 500's gain of 3.16% in that time. Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. In that report, analysts expect ACB to post earnings of -$0.05 per share.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Tech

facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.