Aurora Cannabis Inc (NYSE:ACB) Expected to Earn Q3 2020 Earnings of ($0.01) Per Share

Aurora Cannabis Inc (NYSE:ACB) – Equities research analysts at Seaport Global Securities cut their Q3 2020 earnings per share estimates for shares …

Aurora Cannabis logo

Aurora Cannabis Inc (NYSE:ACB) – Equities research analysts at Seaport Global Securities cut their Q3 2020 earnings per share estimates for shares of Aurora Cannabis in a report released on Tuesday, May 28th, according to Zacks Investment Research. Seaport Global Securities analyst B. Hundley now anticipates that the company will earn ($0.01) per share for the quarter, down from their prior estimate of $0.01. Seaport Global Securities also issued estimates for Aurora Cannabis’ Q4 2020 earnings at $0.01 EPS and FY2021 earnings at $0.04 EPS.

ACB has been the subject of several other research reports. Bank of America started coverage on shares of Aurora Cannabis in a report on Wednesday, April 17th. They issued a “buy” rating and a $11.00 price objective for the company. Desjardins started coverage on shares of Aurora Cannabis in a research report on Thursday, April 25th. They issued a “buy” rating and a $9.07 price target on the stock. Stifel Nicolaus started coverage on shares of Aurora Cannabis in a research report on Wednesday, June 5th. They issued a “hold” rating on the stock. Zacks Investment Research cut shares of Aurora Cannabis from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Finally, TheStreet upgraded shares of Aurora Cannabis from a “d+” rating to a “c” rating in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Aurora Cannabis has an average rating of “Buy” and an average target price of $9.86.

ACB stock traded down $0.14 during trading on Wednesday, hitting $7.30. The company had a trading volume of 16,148,900 shares, compared to its average volume of 10,209,622. The company has a market capitalization of $7.54 billion, a P/E ratio of 60.83 and a beta of 2.80. Aurora Cannabis has a fifty-two week low of $4.05 and a fifty-two week high of $12.52. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

A number of institutional investors have recently modified their holdings of the business. ETF Managers Group LLC acquired a new stake in Aurora Cannabis during the 4th quarter worth about $40,454,000. Norges Bank acquired a new stake in Aurora Cannabis during the 4th quarter worth about $30,915,000. TD Asset Management Inc. acquired a new stake in Aurora Cannabis during the 4th quarter worth about $16,657,000. JW Asset Management LLC acquired a new stake in Aurora Cannabis during the 4th quarter worth about $10,734,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Aurora Cannabis during the 4th quarter worth about $10,504,000. Hedge funds and other institutional investors own 9.00% of the company’s stock.

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

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Q3 2020 EPS Estimates for Aurora Cannabis Inc (TSE:ACB) Lowered by Seaport Global Securities

Aurora Cannabis Inc (TSE:ACB) – Equities researchers at Seaport Global Securities lowered their Q3 2020 earnings per share estimates for Aurora …

Aurora Cannabis logo

Aurora Cannabis Inc (TSE:ACB) – Equities researchers at Seaport Global Securities lowered their Q3 2020 earnings per share estimates for Aurora Cannabis in a research report issued on Tuesday, May 28th, according to Zacks Investment Research. Seaport Global Securities analyst B. Hundley now anticipates that the company will earn ($0.01) per share for the quarter, down from their previous forecast of $0.01. Seaport Global Securities also issued estimates for Aurora Cannabis’ Q4 2020 earnings at $0.01 EPS.

Aurora Cannabis (TSE:ACB) last announced its earnings results on Tuesday, May 14th. The company reported C($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.05) by C($0.05). The company had revenue of C$65.15 million during the quarter, compared to analyst estimates of C$68.05 million.

A number of other research firms have also recently commented on ACB. Jefferies Financial Group reissued a “buy” rating and set a C$12.00 price target on shares of Aurora Cannabis in a report on Monday, February 25th. Cowen restated an “outperform” rating and set a C$14.00 target price on shares of Aurora Cannabis in a research report on Tuesday, March 5th. Bank of America reiterated a “buy” rating and issued a C$15.00 price target on shares of Aurora Cannabis in a report on Wednesday, April 17th. Finally, Desjardins reissued a “buy” rating and issued a C$16.50 price objective on shares of Aurora Cannabis in a research note on Friday, April 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of C$14.58.

ACB traded down C$0.18 during trading on Wednesday, hitting C$9.65. The stock had a trading volume of 8,448,000 shares, compared to its average volume of 12,773,262. The company has a market capitalization of $9.77 billion and a PE ratio of -38.29. The company has a debt-to-equity ratio of 14.55, a current ratio of 2.37 and a quick ratio of 1.80. Aurora Cannabis has a one year low of C$5.29 and a one year high of C$16.24.

In related news, Senior Officer Allan John Cleiren sold 33,000 shares of Aurora Cannabis stock in a transaction on Monday, April 22nd. The stock was sold at an average price of C$12.12, for a total transaction of C$399,960.00. Following the completion of the sale, the insider now owns 51,120 shares of the company’s stock, valued at C$619,574.40.

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

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Aurora Cannabis Inc (NYSE:ACB) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Aurora Cannabis Inc (NYSE:ACB) by 1.8% in the 1st quarter, according to its most …

Aurora Cannabis logoSumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Aurora Cannabis Inc (NYSE:ACB) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,357,247 shares of the company’s stock after buying an additional 42,283 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of Aurora Cannabis worth $21,320,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC boosted its holdings in Aurora Cannabis by 13.9% in the first quarter. Moloney Securities Asset Management LLC now owns 12,320 shares of the company’s stock worth $112,000 after purchasing an additional 1,500 shares in the last quarter. Focused Wealth Management Inc boosted its holdings in Aurora Cannabis by 33.6% during the first quarter. Focused Wealth Management Inc now owns 6,574 shares of the company’s stock valued at $60,000 after acquiring an additional 1,654 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Aurora Cannabis by 27.7% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 9,220 shares of the company’s stock valued at $84,000 after acquiring an additional 2,000 shares during the period. CNB Bank boosted its holdings in Aurora Cannabis by 100.0% during the first quarter. CNB Bank now owns 4,000 shares of the company’s stock valued at $36,000 after acquiring an additional 2,000 shares during the period. Finally, Trustcore Financial Services LLC boosted its holdings in Aurora Cannabis by 34.1% during the first quarter. Trustcore Financial Services LLC now owns 8,880 shares of the company’s stock valued at $80,000 after acquiring an additional 2,258 shares during the period. 9.00% of the stock is owned by institutional investors.

ACB has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. GMP Securities raised shares of Aurora Cannabis from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. Jefferies Financial Group initiated coverage on shares of Aurora Cannabis in a research report on Monday, February 25th. They set a “buy” rating for the company. Desjardins began coverage on shares of Aurora Cannabis in a research report on Thursday, April 25th. They set a “buy” rating and a $9.07 price objective for the company. Finally, Bank of America began coverage on shares of Aurora Cannabis in a research report on Wednesday, April 17th. They issued a “buy” rating and a $11.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.86.

Shares of NYSE ACB traded down $0.14 during mid-day trading on Friday, hitting $7.30. 16,148,900 shares of the stock were exchanged, compared to its average volume of 10,209,622. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 60.83 and a beta of 2.80. The company has a current ratio of 2.37, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10. Aurora Cannabis Inc has a twelve month low of $4.05 and a twelve month high of $12.52.

Aurora Cannabis 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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Institutional Ownership by Quarter for Aurora Cannabis (NYSE:ACB)

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Seaport Global Securities Equities Analysts Reduce Earnings Estimates for Aurora Cannabis Inc …

Aurora Cannabis Inc (NYSE:ACB) – Equities research analysts at Seaport Global Securities decreased their FY2019 earnings per share (EPS) …

Aurora Cannabis logo

Aurora Cannabis Inc (NYSE:ACB) – Equities research analysts at Seaport Global Securities decreased their FY2019 earnings per share (EPS) estimates for Aurora Cannabis in a research report issued to clients and investors on Tuesday, May 28th, Zacks Investment Research reports. Seaport Global Securities analyst B. Hundley now forecasts that the company will post earnings per share of ($0.25) for the year, down from their previous forecast of ($0.17). Seaport Global Securities also issued estimates for Aurora Cannabis’ Q4 2019 earnings at ($0.03) EPS, Q1 2020 earnings at ($0.02) EPS, Q2 2020 earnings at ($0.01) EPS and FY2020 earnings at ($0.04) EPS.

A number of other equities analysts also recently commented on ACB. ValuEngine downgraded Aurora Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded Aurora Cannabis from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. TheStreet raised Aurora Cannabis from a “d+” rating to a “c” rating in a report on Thursday, April 4th. Stifel Nicolaus initiated coverage on Aurora Cannabis in a report on Wednesday, June 5th. They set a “hold” rating on the stock. Finally, Desjardins initiated coverage on Aurora Cannabis in a report on Thursday, April 25th. They set a “buy” rating and a $9.07 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.86.

ACB stock traded down $0.14 during midday trading on Thursday, reaching $7.30. The company had a trading volume of 16,148,900 shares, compared to its average volume of 10,209,622. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. Aurora Cannabis has a fifty-two week low of $4.05 and a fifty-two week high of $12.52. The company has a market cap of $7.54 billion, a P/E ratio of 60.83 and a beta of 2.80.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC bought a new stake in Aurora Cannabis during the first quarter worth approximately $25,000. Financial Management Professionals Inc. raised its holdings in Aurora Cannabis by 586.3% during the first quarter. Financial Management Professionals Inc. now owns 3,061 shares of the company’s stock worth $28,000 after purchasing an additional 2,615 shares in the last quarter. Carroll Financial Associates Inc. bought a new stake in Aurora Cannabis during the first quarter worth approximately $27,000. Burt Wealth Advisors raised its holdings in Aurora Cannabis by 1,033.3% during the first quarter. Burt Wealth Advisors now owns 3,400 shares of the company’s stock worth $31,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new stake in Aurora Cannabis during the first quarter worth approximately $35,000. 9.00% of the stock is currently owned by institutional investors.

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

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3 Worrying Weaknesses in Canopy Growth’s (TSX:WEED) Latest Earnings

… competitors are increasingly focused on generating positive operating earnings as measured by adjusted EBITDA now, and Aurora Cannabis is one …

The king of cannabis Canopy Growth (TSX:WEED)(NYSE:CGC) released its fiscal 2019 earnings and fourth-quarter results for the period ended March 31 on Thursday aftermarket, and shares traded nearly 9% lower, as investors adjusted their valuation opinion on the leading pot stock.

The company was yet to file its full results on Sedar.com by the time of writing on Friday afternoon, but what exactly could have fueled investor disappointment in the company’s latest results?

Here are some preliminary highlights that could explain some of the negatives in Canopy Growth’s fourth-quarter results.

A revenue beat, but weaknesses in the core business

The company’s quarterly net revenue of $94.1 million was a good 13% higher than what was achieved in a most recent quarter, and the figure did surpass consensus analyst estimates, but one critical revenue growth segment is weakening.

Total cannabis gross revenue, the company’s main business, was just $82.3 million if we adjust for the “other revenue” line, which contributed $24.1 million in sales during the fourth quarter. In comparison, cannabis gross revenue during the previous quarter was $90.2 million after adjusting for the $7.5 million in “other revenue” reported in February. This translates to a nearly 9% sequential decline in core business sales generation quarter over quarter.

Suddenly, the 13% growth reported begins to look unimpressive on second thought.

Moreover, the company’s medical cannabis sales performance hasn’t been that impressive, as the industry inched towards recreational legalization last year. Medical segment revenue was a mere $13.4 million during the last quarter, down nearly 40% from a year ago, and a 28% sequential drop from a previous quarter.

Worse adjusted gross margins

If investors were unimpressed by the 22% adjusted gross margin (before fair-value adjustments) reported for a previous quarter, they will surely not like the sequential drop to under 16% in the same profitability measure achieved during the last quarter.

The company’s cash cost of production is still increasing, and it makes sense why management stopped reporting the average cost per gram metrics a while ago. The numbers could have been probably worse.

Increasing operating losses

Canopy Growth is still a high-growth stock, and operating expense growth could be an accompanying feature as the company builds more fighting muscle to grow market share and conquer the global cannabis market.

That said, some of the company’s close competitors are increasingly focused on generating positive operating earnings as measured by adjusted EBITDA now, and Aurora Cannabisis one of them.

Canopy Growth is failing on this operating earnings measure, and things are rather getting worse. Fourth-quarter adjusted EBITDA was an increased loss of nearly $98 million, higher than quarterly net revenue. The company seemingly needs a lot more time and multiple revenue growth miracles just to break even.

Foolish bottom line

Canopy Growth will likely take longer to report a positive operating earnings quarter. Investors have shown some disappointment in the latest financial results release, and further details in the full report could worsen the damage on the share price.

The company still has some $4.5 billion war chest held in cash, cash equivalents, and marketable securities that enables it to plan and execute a global offensive in the budding marijuana space, and the recent acquisitions and forays into the United States hemp and CBD market could become worthy growth frontiers.

There could still be some reason to hold the stock, but latest results could exacerbate the turbulence already inherent on industry tickers.

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