Zacks: Brokerages Anticipate Aurora Cannabis Inc (NYSE:ACB) Will Post Quarterly Sales of $86.47 Million

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Analysts expect Aurora Cannabis Inc (NYSE:ACB) to post $86.47 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Aurora Cannabis’ earnings. The lowest sales estimate is $67.91 million and the highest is $98.50 million. Aurora Cannabis posted sales of $14.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 482.7%. The business is expected to announce its next earnings results on Tuesday, September 24th.

On average, analysts expect that Aurora Cannabis will report full-year sales of $198.07 million for the current fiscal year, with estimates ranging from $179.10 million to $209.33 million. For the next year, analysts expect that the firm will post sales of $476.22 million, with estimates ranging from $398.51 million to $532.91 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Aurora Cannabis.

A number of equities analysts have recently issued reports on the company. ValuEngine raised Aurora Cannabis from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. TheStreet raised Aurora Cannabis from a “d+” rating to a “c” rating in a research note on Thursday, April 4th. Desjardins assumed coverage on Aurora Cannabis in a research note on Thursday, April 25th. They set a “buy” rating and a $9.07 target price for the company. Bank of America assumed coverage on Aurora Cannabis in a research note on Wednesday, April 17th. They set a “buy” rating and a $11.00 target price for the company. Finally, GMP Securities raised Aurora Cannabis from a “hold” rating to a “buy” rating in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Aurora Cannabis currently has an average rating of “Buy” and an average target price of $9.86.

Several hedge funds have recently modified their holdings of the company. Actinver Wealth Management Inc. raised its stake in shares of Aurora Cannabis by 6.4% during the 1st quarter. Actinver Wealth Management Inc. now owns 20,090 shares of the company’s stock worth $182,000 after buying an additional 1,215 shares in the last quarter. Glassman Wealth Services increased its stake in Aurora Cannabis by 8.2% in the 1st quarter. Glassman Wealth Services now owns 17,587 shares of the company’s stock valued at $159,000 after purchasing an additional 1,326 shares in the last quarter. Moloney Securities Asset Management LLC increased its stake in Aurora Cannabis by 13.9% in the 1st quarter. Moloney Securities Asset Management LLC now owns 12,320 shares of the company’s stock valued at $112,000 after purchasing an additional 1,500 shares in the last quarter. US Bancorp DE increased its stake in Aurora Cannabis by 30.8% in the 1st quarter. US Bancorp DE now owns 6,385 shares of the company’s stock valued at $58,000 after purchasing an additional 1,505 shares in the last quarter. Finally, Focused Wealth Management Inc increased its stake in Aurora Cannabis by 33.6% in the 1st quarter. Focused Wealth Management Inc now owns 6,574 shares of the company’s stock valued at $60,000 after purchasing an additional 1,654 shares in the last quarter. 9.02% of the stock is owned by institutional investors and hedge funds.

Shares of ACB stock traded down $0.01 during trading hours on Friday, reaching $7.56. 9,502,741 shares of the company’s stock were exchanged, compared to its average volume of 11,422,070. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 63.00 and a beta of 2.80. Aurora Cannabis has a 1 year low of $4.05 and a 1 year high of $12.52. The company has a current ratio of 2.37, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10.

About Aurora Cannabis

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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