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High Tide Inc. (HITI) Laps the Stock Market: Here's Why
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High Tide Inc. (HITI - Free Report) closed the most recent trading day at $2.22, moving +1.37% from the previous trading session. This change outpaced the S&P 500's 1.07% gain on the day. On the other hand, the Dow registered a gain of 0.31%, and the technology-centric Nasdaq increased by 2.17%.
The company's stock has climbed by 11.17% in the past month, exceeding the Medical sector's gain of 3.34% and the S&P 500's gain of 2.92%.
Market participants will be closely following the financial results of High Tide Inc. in its upcoming release. The company plans to announce its earnings on September 16, 2024. In that report, analysts expect High Tide Inc. to post earnings of -$0.02 per share. This would mark year-over-year growth of 33.33%. Alongside, our most recent consensus estimate is anticipating revenue of $93.3 million, indicating a 0.14% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.03 per share and revenue of $374.14 million, indicating changes of +66.67% and +3.48%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for High Tide Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. High Tide Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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High Tide Inc. (HITI) Laps the Stock Market: Here's Why
High Tide Inc. (HITI - Free Report) closed the most recent trading day at $2.22, moving +1.37% from the previous trading session. This change outpaced the S&P 500's 1.07% gain on the day. On the other hand, the Dow registered a gain of 0.31%, and the technology-centric Nasdaq increased by 2.17%.
The company's stock has climbed by 11.17% in the past month, exceeding the Medical sector's gain of 3.34% and the S&P 500's gain of 2.92%.
Market participants will be closely following the financial results of High Tide Inc. in its upcoming release. The company plans to announce its earnings on September 16, 2024. In that report, analysts expect High Tide Inc. to post earnings of -$0.02 per share. This would mark year-over-year growth of 33.33%. Alongside, our most recent consensus estimate is anticipating revenue of $93.3 million, indicating a 0.14% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.03 per share and revenue of $374.14 million, indicating changes of +66.67% and +3.48%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for High Tide Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. High Tide Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.