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High Tide Inc. (HITI) Outpaces Stock Market Gains: What You Should Know
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The most recent trading session ended with High Tide Inc. (HITI - Free Report) standing at $2.54, reflecting a +0.4% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.15%. Elsewhere, the Dow saw an upswing of 0.36%, while the tech-heavy Nasdaq appreciated by 0.17%.
Coming into today, shares of the company had gained 13.96% in the past month. In that same time, the Medical sector gained 2.96%, while the S&P 500 gained 3.2%.
Analysts and investors alike will be keeping a close eye on the performance of High Tide Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on June 13, 2024. The company is predicted to post an EPS of -$0.01, indicating constancy compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $94.17 million, indicating an 8.08% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0 per share and a revenue of $387.47 million, indicating changes of +100% and +7.16%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for High Tide Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. High Tide Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, High Tide Inc. is currently exchanging hands at a Forward P/E ratio of 759. This denotes a premium relative to the industry's average Forward P/E of 22.67.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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High Tide Inc. (HITI) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with High Tide Inc. (HITI - Free Report) standing at $2.54, reflecting a +0.4% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.15%. Elsewhere, the Dow saw an upswing of 0.36%, while the tech-heavy Nasdaq appreciated by 0.17%.
Coming into today, shares of the company had gained 13.96% in the past month. In that same time, the Medical sector gained 2.96%, while the S&P 500 gained 3.2%.
Analysts and investors alike will be keeping a close eye on the performance of High Tide Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on June 13, 2024. The company is predicted to post an EPS of -$0.01, indicating constancy compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $94.17 million, indicating an 8.08% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0 per share and a revenue of $387.47 million, indicating changes of +100% and +7.16%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for High Tide Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. High Tide Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, High Tide Inc. is currently exchanging hands at a Forward P/E ratio of 759. This denotes a premium relative to the industry's average Forward P/E of 22.67.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.