$80.31 Million in Sales Expected for Aurora Cannabis Inc (NYSE:ACB) This Quarter
Equities analysts forecast that Aurora Cannabis Inc (NYSE:ACB) will announce $80.31 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Aurora Cannabis’ earnings, with the lowest sales estimate coming in at $78.58 million and the highest estimate coming in at $85.45 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 441.2%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, September 11th.
According to Zacks, analysts expect that Aurora Cannabis will report full-year sales of $192.55 million for the current financial year, with estimates ranging from $190.58 million to $198.02 million. For the next fiscal year, analysts expect that the company will report sales of $487.39 million, with estimates ranging from $453.32 million to $532.91 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Aurora Cannabis.
A number of analysts have recently issued reports on the company. Compass Point initiated coverage on Aurora Cannabis in a report on Monday, July 8th. They issued a “neutral” rating for the company. ValuEngine upgraded Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Bank of America lowered Aurora Cannabis from a “buy” rating to a “neutral” rating and set a $7.30 price target on the stock. in a research report on Thursday, July 18th. LADENBURG THALM/SH SH started coverage on Aurora Cannabis in a research report on Wednesday, July 17th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Stifel Nicolaus initiated coverage on Aurora Cannabis in a research note on Wednesday, June 5th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.23.
A number of hedge funds have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Aurora Cannabis by 247.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 285,802 shares of the company’s stock valued at $2,244,000 after acquiring an additional 203,468 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Aurora Cannabis in the second quarter worth $54,000. Toronto Dominion Bank increased its stake in shares of Aurora Cannabis by 13.1% in the second quarter. Toronto Dominion Bank now owns 656,035 shares of the company’s stock worth $5,139,000 after acquiring an additional 75,857 shares during the last quarter. Atria Investments LLC purchased a new stake in shares of Aurora Cannabis during the second quarter worth $587,000. Finally, RFG Advisory LLC raised its holdings in shares of Aurora Cannabis by 25.4% during the second quarter. RFG Advisory LLC now owns 21,395 shares of the company’s stock worth $169,000 after acquiring an additional 4,338 shares in the last quarter. Institutional investors own 8.89% 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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