Aurora Cannabis Inc. (ACB) closed the most recent trading day at $11.88, moving -1.41% from the previous trading session. This change lagged the S&P 500’s daily gain of 0.29%. Elsewhere, the Dow lost 0.24%, while the tech-heavy Nasdaq added 0.28%.
Prior to today’s trading, shares of the company had lost 7.38% over the past month. This has lagged the Medical sector’s gain of 3.14% and the S&P 500’s gain of 2.96% in that time.
ACB will be looking to display strength as it nears its next earnings release. Our most recent consensus estimate is calling for quarterly revenue of $53.75 million, down 37.04% from the year-ago period.
Investors might also notice recent changes to analyst estimates for ACB. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.82% higher within the past month. ACB is currently sporting a Zacks Rank of #2 (Buy).
The Medical – Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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