Zacks: Brokerages Anticipate Aurora Cannabis Inc. (NYSE:ACB) Will Post Quarterly Sales of $39.11 Million

Equities analysts predict that Aurora Cannabis Inc. (NYSE:ACBGet Rating) will post sales of $39.11 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Aurora Cannabis’ earnings, with the lowest sales estimate coming in at $38.05 million and the highest estimate coming in at $41.25 million. Aurora Cannabis posted sales of $44.63 million during the same quarter last year, which suggests a negative year-over-year growth rate of 12.4%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Aurora Cannabis will report full-year sales of $171.51 million for the current financial year, with estimates ranging from $169.33 million to $174.92 million. For the next financial year, analysts expect that the business will post sales of $178.28 million, with estimates ranging from $158.82 million to $212.42 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Aurora Cannabis.

Several brokerages recently weighed in on ACB. CIBC dropped their price target on shares of Aurora Cannabis from C$6.50 to C$3.75 in a research report on Monday, May 16th. Zacks Investment Research raised shares of Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Monday, January 31st. Finally, Cantor Fitzgerald dropped their target price on shares of Aurora Cannabis from C$7.60 to C$3.90 in a research report on Friday, May 13th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.74.

Several hedge funds have recently modified their holdings of the company. ETF Managers Group LLC increased its stake in shares of Aurora Cannabis by 1.5% during the 4th quarter. ETF Managers Group LLC now owns 11,435,872 shares of the company’s stock worth $62,897,000 after purchasing an additional 169,935 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Aurora Cannabis by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 6,346,189 shares of the company’s stock worth $25,383,000 after purchasing an additional 281,946 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Aurora Cannabis by 2.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,615,895 shares of the company’s stock worth $6,464,000 after purchasing an additional 42,423 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Aurora Cannabis by 47.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 981,039 shares of the company’s stock worth $3,924,000 after purchasing an additional 313,940 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Aurora Cannabis by 6.4% in the 4th quarter. Bank of Montreal Can now owns 934,668 shares of the company’s stock valued at $5,206,000 after buying an additional 56,423 shares in the last quarter. Institutional investors own 15.47% of the company’s stock.

Shares of NYSE ACB opened at $2.68 on Thursday. Aurora Cannabis has a fifty-two week low of $2.20 and a fifty-two week high of $10.64. The stock has a market cap of $601.20 million, a price-to-earnings ratio of -0.58 and a beta of 2.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.70 and a current ratio of 5.85. The firm’s 50-day simple moving average is $3.31 and its 200 day simple moving average is $4.57.

Aurora Cannabis Company Profile (Get Rating)

Aurora Cannabis Inc produces, distributes, and sells cannabis and cannabis derivative products in Canada and internationally. It also engages in facility engineering and design, cannabis breeding, research, production, derivatives, product development, wholesale, and retail distribution activities. The company produces various strains of dried cannabis, cannabis oil and capsules, and topical kits for medical patients.

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Earnings History and Estimates for Aurora Cannabis (NYSE:ACB)

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