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Here's Why Investors Should Keep An Eye On Sundial Stock, Analyst's Thoughts Post Q1 Earnings
Here's Why Investors Should Keep An Eye On Sundial Stock, Analyst's Thoughts Post Q1 Earnings
On Monday, Canadian cannabis LP Sundial Growers Inc. (NASDAQ:SNDL) released its financials for the first quarter of the year and the company's shares soared.
At the close of Monday's trading session shares were selling at $0.46, up 21% from the previous market close. Currently, the company's shares are trading 1.6037% higher at $0.4435 per share.
Cantor Fitzgerald's Pablo Zuanic called it a "quite volatile stock," treading at an 8% discount to his new sum-of-the-parts (SOTP) approach to valuation for the stock.
The Analyst
Zuanic retained a Neutral rating on Sundial's stock while lowering the price target to $0.48 (CA$0.61) from $0.97.
The Thesis
The first quarter was marked by one of the largest M&A actions in the company's history. On March 31, Sundial closed the acquisition of Alcanna Inc. for $255 million. The new subsidiary had a revenue of CA$162.5 million ($126.4 million) in the same quarter.
Retail & Cultivation
Currently, the company controls 183 cannabis retail stores in Canada, including 80 Value Buds discount shops which are 63% owned by Sundial via a deal with Alcanna and 103 Spirit Leaf stores.
"It would be a mistake to dismiss SNDL as 'too small' in cannabis, given the management vision and cash balances," the analyst said.
Cash, marketable securities, long-term investments and no outstanding debt amounted to CA$1.0 billion ($778 million) at the end of the period, with CA$361 million ($280 million) of unrestricted cash on May 13, 2022.
Moreover, equity stakes in The Valens Company Inc. (TSX:VLNS) (NASDAQ:VLNS) – which is well-positioned in manufactured formats - as well as Canadian grower Village Farms Intl (NASDAQ:VFF) are only going to favor the company's scale-up strategy, Zuanic added.
In addition, Alcanna owns 170 retail liquor locations in Alberta.
"We believe that SNDL will seek to stabilize and optimize the business and improve free cash flow trends," Zuanic said, adding that he would not be "surprised if this unit is eventually divested taking a 2-year view."
Lending
Last year, Sundial announced a 50/50 joint venture through SunStream Bancorp, Inc. Since then, the joint venture has had a credit portfolio comprised of secured and hybrid debt of $380 million. In the first quarter, the company recognized $4.1 million as its profit share from the Sunstream Bancorp JV.
"We see the potential synergies that Sundial can create from retailing, cultivation, and lending in the cannabis space," Zuanic said. Sundial is an "LP that investors should keep an eye on – at least we give management kudos for its ambitions and vision."
Photo: Courtesy of Nicholas Cappello on Unsplash
On Monday, Canadian cannabis LP Sundial Growers Inc. (NASDAQ:SNDL) released its financials for the first quarter of the year and the company's shares soared.
周一,加拿大大麻有限责任公司日规种植者公司。(纳斯达克股票代码:SNDL)发布今年第一季度的财务数据,该公司的股价飙升。
At the close of Monday's trading session shares were selling at $0.46, up 21% from the previous market close. Currently, the company's shares are trading 1.6037% higher at $0.4435 per share.
周一收盘时,股票在抛售报0.46美元,较前一交易日收盘上涨21%。目前,该公司股价上涨1.6037%,至每股0.4435美元。
Cantor Fitzgerald's Pablo Zuanic called it a "quite volatile stock," treading at an 8% discount to his new sum-of-the-parts (SOTP) approach to valuation for the stock.
康托·菲茨杰拉德的巴勃罗·祖阿尼克称其为“波动较大的股票,“在他新的部分总和(SOTP)股票估值方法的基础上有8%的折扣。
The Analyst
《分析师》
Zuanic retained a Neutral rating on Sundial's stock while lowering the price target to $0.48 (CA$0.61) from $0.97.
祖阿尼奇对Sunial的股票保持中性评级,同时将目标价从0.97美元下调至0.48美元(0.61加元)。
The Thesis
这篇论文是
The first quarter was marked by one of the largest M&A actions in the company's history. On March 31, Sundial closed the acquisition of Alcanna Inc. for $255 million. The new subsidiary had a revenue of CA$162.5 million ($126.4 million) in the same quarter.
第一季度是该公司历史上最大的并购行动之一。3月31日,太阳表盘关闭了以2.55亿美元收购Alcanna Inc.新子公司在同一季度的收入为1.625亿加元(1.264亿美元)。
Retail & Cultivation
零售业与种植业
Currently, the company controls 183 cannabis retail stores in Canada, including 80 Value Buds discount shops which are 63% owned by Sundial via a deal with Alcanna and 103 Spirit Leaf stores.
目前,该公司控制着加拿大183家大麻零售店,包括80家Value Buds折扣店,通过与阿尔坎纳的交易,Sunial拥有63%的股份,以及103家精神叶商店。
"It would be a mistake to dismiss SNDL as 'too small' in cannabis, given the management vision and cash balances," the analyst said.
“这将是一场错误地认为大麻中的SNDL“太小”鉴于管理层的愿景和现金余额,这位分析师表示。
Cash, marketable securities, long-term investments and no outstanding debt amounted to CA$1.0 billion ($778 million) at the end of the period, with CA$361 million ($280 million) of unrestricted cash on May 13, 2022.
现金、有价证券、长期投资和无未偿债务共计10亿加元(7.78亿美元),其中2022年5月13日,加元3.61亿加元(2.8亿美元)的无限制现金。
Moreover, equity stakes in The Valens Company Inc. (TSX:VLNS) (NASDAQ:VLNS) – which is well-positioned in manufactured formats - as well as Canadian grower Village Farms Intl (NASDAQ:VFF) are only going to favor the company's scale-up strategy, Zuanic added.
此外,持股于瓦伦斯公司(多伦多证券交易所股票代码:VLNS)(纳斯达克:VLNS)-在制造格式中定位良好-以及加拿大种植者国际乡村农场(纳斯达克:vff)只会去为了支持公司的扩大战略,祖阿尼克补充道。
In addition, Alcanna owns 170 retail liquor locations in Alberta.
此外,阿尔坎纳在艾伯塔省拥有170家白酒零售店。
"We believe that SNDL will seek to stabilize and optimize the business and improve free cash flow trends," Zuanic said, adding that he would not be "surprised if this unit is eventually divested taking a 2-year view."
“我们相信SNDL将寻求稳定和优化业务,改善自由现金流趋势,”祖阿尼克说,并补充说,他不会感到惊讶,“如果这个部门最终被剥离了两年的前景。”
Lending
放贷
Last year, Sundial announced a 50/50 joint venture through SunStream Bancorp, Inc. Since then, the joint venture has had a credit portfolio comprised of secured and hybrid debt of $380 million. In the first quarter, the company recognized $4.1 million as its profit share from the Sunstream Bancorp JV.
去年,Sunial宣布通过Sunstream Bancorp,Inc.成立一家对半持股的合资企业。从那时起,这家合资企业就有了信贷组合由以下担保债务和混合债务组成3.8亿美元。在第一季度,该公司确认了Sunstream Bancorp合资公司410万美元的利润份额。
"We see the potential synergies that Sundial can create from retailing, cultivation, and lending in the cannabis space," Zuanic said. Sundial is an "LP that investors should keep an eye on – at least we give management kudos for its ambitions and vision."
祖阿尼克说:“我们看到了Sunial从大麻零售、种植和借贷中创造的潜在协同效应。”日规是一种“投资者应密切关注的LP-至少我们为管理层的雄心壮志和远见赢得了赞誉。
Photo: Courtesy of Nicholas Cappello on Unsplash
图片:由Nicholas Cappello在Unspash上提供
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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