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High Tide Q3: Incredible Sales Momentum, Weaker Gross Margin (Rating Upgrade)
Seeking Alpha· 2024-09-18 08:41
Core Viewpoint - The article emphasizes the investment philosophy focused on identifying mispriced securities through understanding the financial drivers of companies, often revealed by DCF model valuation [1]. Group 1 - The investment strategy is centered on small cap companies across US, Canadian, and European markets [1]. - The methodology allows for flexibility beyond traditional investment categories such as value, dividend, or growth investing, considering all prospects of a stock to assess risk-to-reward [1].
High Tide Inc. (HITI) Surpasses Q3 Earnings and Revenue Estimates
ZACKS· 2024-09-16 22:10
High Tide Inc. (HITI) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 150%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced break-even earnings, delivering a surprise of 100%. Over the last four quarters, the compa ...
High Tide (HITI) - 2024 Q3 - Quarterly Report
2024-09-16 20:01
Exhibit 99.1 Condensed Interim Consolidated Financial Statements For the three and nine months ended July 31, 2024 and 2023 (Stated in thousands of Canadian dollars, except share and per share amounts) (Unaudited) High Tide Inc. Condensed Interim Consolidated Financial Statements For the three and nine months ended July 31, 2024 and 2023 Condensed Interim Consolidated Financial Statements for the three and nine months ended July 31, 2024 and 2023. The accompanying unaudited condensed interim consolidated fi ...
High Tide Reports Third Quarter 2024 Financial Results Featuring Record Revenue of $131.7 Million, and 2nd Consecutive Quarter of Positive Net Income
Prnewswire· 2024-09-16 20:01
The Company Also Reports 5th Consecutive Quarter of Positive Free Cash Flow With Trailing Free Cash Flow Totaling $21.8 Million and Achieves 12% Market Share in the Provinces where it Operates1, Up From 10% a Year Ago This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated August 31, 2023, to its short form base shelf prospectus dated August 3, 2023. High Tide Remains the Highest Revenue Generating Cannabis Company Reporting in Canadian Dollars ...
Is It Worth Investing in High Tide (HITI) Based on Wall Street's Bullish Views?
ZACKS· 2024-09-13 14:36
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? Let's take a look at what these Wall Street heavyweights have to say about High Tide Inc. (HITI) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. High Tide currently has a ...
High Tide Announces Launch of Queen of Bud Branded White Label Products in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario
Prnewswire· 2024-09-12 10:00
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated August 31, 2023, to its short form base shelf prospectus dated August 3, 2023. CALGARY, AB, Sept. 12, 2024 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that its Canna Cabana retail cannabis stores in Britis ...
High Tide Inc. (HITI) Laps the Stock Market: Here's Why
ZACKS· 2024-09-11 22:56
Company Performance - High Tide Inc. (HITI) closed at $2.22, with a gain of +1.37% on the most recent trading day, outperforming the S&P 500's gain of 1.07% [1] - The company's stock has increased by 11.17% over the past month, surpassing the Medical sector's gain of 3.34% and the S&P 500's gain of 2.92% [1] Upcoming Earnings - High Tide Inc. is set to announce its earnings on September 16, 2024, with analysts expecting earnings of -$0.02 per share, reflecting a year-over-year growth of 33.33% [2] - The consensus estimate for revenue is $93.3 million, indicating a slight increase of 0.14% from the same quarter last year [2] Annual Forecast - For the entire year, the Zacks Consensus Estimates predict earnings of -$0.03 per share and revenue of $374.14 million, representing changes of +66.67% and +3.48% respectively compared to the previous year [3] Analyst Projections - Recent shifts in analyst projections for High Tide Inc. should be monitored, as they reflect changing business trends and can indicate analysts' favorable outlook on the company's health and profitability [4] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has shown a strong track record, with 1 stocks averaging an annual return of +25% since 1988 [6] - High Tide Inc. currently holds a Zacks Rank of 3 (Hold), with the consensus EPS estimate remaining unchanged over the past month [6] Industry Overview - The Medical - Products industry, part of the Medical sector, has a Zacks Industry Rank of 84, placing it in the top 34% of all industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]
Can HITI Stock Get a Boost From Bricks-and-Mortar Sales in Q3 Earnings?
ZACKS· 2024-09-09 15:15
High Tide (HITI) is set to release results for the third quarter of fiscal 2024 on Sept. 16 after market close. The prominent retail cannabis player posted breakeven earnings per share in the last reported quarter against the Zacks Consensus Estimate of a loss of 1 cent. The company topped earnings estimates in each of the trailing four quarters, the average surprise being 97.92%. During the third quarter of fiscal 2024, HITI stock declined 16.4% against the industry's 1.2% rise. Q3 Estimates for HITI For t ...
High Tide to Open Canna Cabana in Lucan, Ontario
Prnewswire· 2024-09-05 10:00
Core Insights - High Tide Inc. is expanding its retail cannabis operations with the opening of its 183rd Canna Cabana location in Lucan, Ontario, marking the first licensed retail cannabis store in the area [1][3] - The new store is strategically located between London, Ontario, and Grand Bend, in a rapidly growing retail plaza with various anchor tenants [2] - The company aims to reach 300 Canna Cabana locations across Canada, focusing on underserved areas, while competitors face financial difficulties [3] Company Overview - High Tide is recognized as the second-largest cannabis retailer globally by store count, with a fully integrated operation across all cannabis components [6] - Canna Cabana is the largest cannabis retail chain in Canada, with 183 locations across multiple provinces [6] - High Tide operates various e-commerce platforms for cannabis accessories and has a diverse brand portfolio, including Queen of Bud and Cabana Cannabis Co [7][8] Recent Developments - The company has launched a new website and is preparing for its third fiscal quarter filing, indicating ongoing growth and innovation [4] - High Tide has granted 60,000 incentive stock options to employees, reflecting its commitment to employee engagement and retention [5] Industry Position - High Tide has been recognized as one of Canada's Top Growing Companies for three consecutive years and ranked highly in the retail category of the Financial Times' list of Americas' Fastest Growing Companies for 2023 [10]
High Tide to Launch Next-Gen Canna Cabana 2.0 Website
Prnewswire· 2024-09-03 10:00
CALGARY, AB, Sept. 3, 2024 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced that at 8:00 PM Mountain Time tonight, it will re-launch the website of its flagship Canadian bricks-and-mortar retail brand, Canna Cabana, which represents more than 90 per cent of the Company's revenue. The new website features the latest tech, resulting in ...