Equities research analysts forecast that Aurora Cannabis Inc. (NYSE:ACB) will announce $47.12 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Aurora Cannabis’ earnings. The lowest sales estimate is $44.05 million and the highest is $51.35 million. Aurora Cannabis reported sales of $51.93 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.3%. The business is expected to report its next earnings results on Thursday, February 10th.
According to Zacks, analysts expect that Aurora Cannabis will report full-year sales of $191.19 million for the current financial year, with estimates ranging from $184.05 million to $199.30 million. For the next financial year, analysts forecast that the company will report sales of $225.28 million, with estimates ranging from $220.35 million to $231.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Aurora Cannabis.
Aurora Cannabis (NYSE:ACB) last announced its earnings results on Monday, September 27th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. Aurora Cannabis had a negative net margin of 252.40% and a negative return on equity of 9.09%. The firm had revenue of $44.63 million for the quarter, compared to the consensus estimate of $45.91 million.
A number of research firms recently commented on ACB. Cantor Fitzgerald dropped their target price on shares of Aurora Cannabis from C$12.00 to C$8.30 and set a “neutral” rating on the stock in a research report on Friday, September 17th. Piper Sandler reiterated a “hold” rating and set a $7.00 price target on shares of Aurora Cannabis in a research note on Tuesday, September 28th. Needham & Company LLC reiterated a “sell” rating on shares of Aurora Cannabis in a research note on Tuesday, September 28th. Zacks Investment Research upgraded shares of Aurora Cannabis from a “sell” rating to a “hold” rating in a research note on Thursday, September 30th. Finally, Canaccord Genuity reduced their target price on shares of Aurora Cannabis from C$6.50 to C$6.00 and set a “sell” rating for the company in a research note on Thursday, November 11th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.08.
Shares of NYSE:ACB opened at $6.12 on Monday. Aurora Cannabis has a 52 week low of $5.55 and a 52 week high of $18.98. The company’s 50 day moving average is $6.98 and its two-hundred day moving average is $7.48. The company has a current ratio of 5.42, a quick ratio of 4.13 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.21 billion, a PE ratio of -2.34 and a beta of 2.99.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Aurora Cannabis by 6.2% in the second quarter. Vanguard Group Inc. now owns 5,846,785 shares of the company’s stock worth $52,855,000 after buying an additional 339,238 shares during the last quarter. Bank of Montreal Can increased its stake in Aurora Cannabis by 12.0% during the second quarter. Bank of Montreal Can now owns 941,048 shares of the company’s stock valued at $8,760,000 after purchasing an additional 100,834 shares during the last quarter. TD Asset Management Inc. increased its stake in Aurora Cannabis by 7.8% during the third quarter. TD Asset Management Inc. now owns 659,000 shares of the company’s stock valued at $4,562,000 after purchasing an additional 47,662 shares during the last quarter. Alberta Investment Management Corp grew its position in shares of Aurora Cannabis by 543.9% during the second quarter. Alberta Investment Management Corp now owns 593,700 shares of the company’s stock worth $5,370,000 after acquiring an additional 501,500 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of Aurora Cannabis by 3.1% during the third quarter. Public Sector Pension Investment Board now owns 531,515 shares of the company’s stock worth $3,680,000 after acquiring an additional 15,815 shares during the last quarter. 17.17% of the stock is currently owned by institutional investors and hedge funds.
About Aurora Cannabis
Aurora Cannabis, Inc engages in the production, distribution and sale of cannabis products. It also produces and sells indoor cultivation systems and hemp related food products. The company was founded by Terry Booth and Steve Dobler on December 21, 2006 and is headquartered in Edmonton, Canada.
Featured Article: CD Ladder
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Aurora Cannabis, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Aurora Cannabis wasn’t on the list.
While Aurora Cannabis currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.