Wall Street brokerages expect that Aurora Cannabis Inc. (NYSE:ACB) will post sales of $53.10 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Aurora Cannabis’ earnings. The highest sales estimate is $60.24 million and the lowest is $47.08 million. Aurora Cannabis posted sales of $52.02 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The business is expected to issue its next quarterly earnings report on Thursday, September 23rd.
On average, analysts expect that Aurora Cannabis will report full year sales of $214.09 million for the current fiscal year, with estimates ranging from $203.99 million to $225.24 million. For the next financial year, analysts expect that the firm will report sales of $277.43 million, with estimates ranging from $222.99 million to $315.79 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Aurora Cannabis.
Aurora Cannabis (NYSE:ACB) last announced its earnings results on Wednesday, May 12th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.65). Aurora Cannabis had a negative net margin of 895.36% and a negative return on equity of 11.19%.
Several research analysts recently issued reports on ACB shares. CIBC cut their target price on Aurora Cannabis from C$15.00 to C$9.00 and set an “underperformer” rating on the stock in a research report on Monday, May 17th. Canaccord Genuity reissued a “sell” rating and issued a $7.00 price objective (down previously from $14.00) on shares of Aurora Cannabis in a research report on Thursday, May 20th. Desjardins cut Aurora Cannabis from a “hold” rating to a “sell” rating in a research report on Friday, February 12th. Zacks Investment Research raised Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Wednesday, May 19th. Finally, Needham & Company LLC started coverage on Aurora Cannabis in a research report on Friday, May 14th. They issued a “sell” rating on the stock. Six equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.22.
Several large investors have recently added to or reduced their stakes in ACB. ETF Managers Group LLC raised its stake in shares of Aurora Cannabis by 46.9% during the 4th quarter. ETF Managers Group LLC now owns 6,785,656 shares of the company’s stock valued at $56,389,000 after purchasing an additional 2,167,593 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Aurora Cannabis by 115.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,177,351 shares of the company’s stock valued at $10,961,000 after purchasing an additional 632,079 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Aurora Cannabis during the 1st quarter valued at $2,806,000. Renaissance Technologies LLC bought a new stake in shares of Aurora Cannabis during the 1st quarter valued at $2,288,000. Finally, CIBC Asset Management Inc raised its stake in shares of Aurora Cannabis by 357.0% during the 4th quarter. CIBC Asset Management Inc now owns 308,780 shares of the company’s stock valued at $2,565,000 after purchasing an additional 241,218 shares during the period. Institutional investors own 12.89% of the company’s stock.
Shares of NYSE:ACB opened at $9.37 on Wednesday. The stock has a market capitalization of $1.86 billion, a PE ratio of -0.64 and a beta of 3.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.95 and a current ratio of 5.88. Aurora Cannabis has a 12-month low of $3.71 and a 12-month high of $18.98. The firm’s 50 day moving average is $8.43.
Aurora Cannabis Company Profile
Aurora Cannabis Inc produces and distributes medical cannabis products worldwide. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, including facility engineering and design, cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.
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