Aurora Cannabis Inc (ACB) Expected to Announce Quarterly Sales of $91.59 Million
Posted by Denise Davis on May 22nd, 2019
Aurora Cannabis logoEquities research analysts predict that Aurora Cannabis Inc (NYSE:ACB) will announce $91.59 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Aurora Cannabis’ earnings. The lowest sales estimate is $86.07 million and the highest is $98.50 million. Aurora Cannabis reported sales of $14.84 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 517.2%. The company is expected to announce its next quarterly earnings report on Tuesday, September 24th.
According to Zacks, analysts expect that Aurora Cannabis will report full year sales of $205.06 million for the current financial year, with estimates ranging from $198.32 million to $209.33 million. For the next financial year, analysts forecast that the business will post sales of $517.38 million, with estimates ranging from $469.23 million to $619.84 million. Zacks’ sales averages are an average based on a survey of research firms that cover Aurora Cannabis.
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ACB has been the topic of several recent analyst reports. GMP Securities reissued a “hold” rating and set a $9.50 target price on shares of Aurora Cannabis in a research note on Tuesday, February 12th. Seaport Global Securities began coverage on shares of Aurora Cannabis in a research report on Thursday, February 21st. They set a “neutral” rating for the company. Jefferies Financial Group began coverage on shares of Aurora Cannabis in a research report on Monday, February 25th. They set a “buy” rating for the company. TheStreet downgraded shares of Aurora Cannabis from a “c” rating to a “d+” rating in a research report on Monday, February 25th. Finally, Cowen began coverage on shares of Aurora Cannabis in a research report on Tuesday, March 5th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.86.
Hedge funds have recently added to or reduced their stakes in the business. Bank of Nova Scotia acquired a new stake in Aurora Cannabis in the 4th quarter valued at about $2,537,000. Deutsche Bank AG purchased a new stake in shares of Aurora Cannabis in the 4th quarter valued at approximately $3,105,000. Virtu Financial LLC purchased a new stake in shares of Aurora Cannabis in the 4th quarter valued at approximately $1,355,000. JW Asset Management LLC purchased a new stake in shares of Aurora Cannabis in the 4th quarter valued at approximately $10,734,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Aurora Cannabis in the 4th quarter valued at approximately $459,000. Institutional investors own 8.35% of the company’s stock.
Shares of ACB stock traded down $0.03 during mid-day trading on Friday, hitting $8.63. 287,791 shares of the stock were exchanged, compared to its average volume of 26,821,131. The company has a quick ratio of 2.50, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. Aurora Cannabis has a 52-week low of $4.05 and a 52-week high of $12.52. The firm has a market cap of $8.82 billion, a P/E ratio of 71.90 and a beta of 2.82.
Aurora Cannabis Company Profile
Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.
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