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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.
週一,加拿大大麻有限責任公司日規種植者公司。(納斯達克股票代碼:SNDL)發佈今年第一季度的財務數據,該公司的股價飆升。
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.
週一收盤時,股票在拋售報0.46美元,較前一交易日收盤上漲21%。目前,該公司股價上漲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.
康託·菲茨傑拉德的巴勃羅·祖阿尼克稱其為“波動較大的股票,“在他新的部分總和(SOTP)股票估值方法的基礎上有8%的折扣。
The Analyst
《分析師》
Zuanic retained a Neutral rating on Sundial's stock while lowering the price target to $0.48 (CA$0.61) from $0.97.
祖阿尼奇對Sunial的股票保持中性評級,同時將目標價從0.97美元下調至0.48美元(0.61加元)。
The Thesis
這篇論文是
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.
第一季度是該公司歷史上最大的併購行動之一。3月31日,太陽錶盤關閉了以2.55億美元收購Alcanna Inc.新子公司在同一季度的收入為1.625億加元(1.264億美元)。
Retail & Cultivation
零售業與種植業
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,該公司控制着加拿大183家大麻零售店,包括80家Value Buds折扣店,通過與阿爾坎納的交易,Sunial擁有63%的股份,以及103家精神葉商店。
"It would be a mistake to dismiss SNDL as 'too small' in cannabis, given the management vision and cash balances," the analyst said.
“這將是一場錯誤地認為大麻中的SNDL“太小”鑑於管理層的願景和現金餘額,這位分析師表示。
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.
現金、有價證券、長期投資和無未償債務共計10億加元(7.78億美元),其中2022年5月13日,加元3.61億加元(2.8億美元)的無限制現金。
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,持股於瓦倫斯公司(多倫多證券交易所股票代碼:VLNS)(納斯達克:VLNS)-在製造格式中定位良好-以及加拿大種植者國際鄉村農場(納斯達克:vff)只會去為了支持公司的擴大戰略,祖阿尼克補充道。
In addition, Alcanna owns 170 retail liquor locations in Alberta.
此外,阿爾坎納在艾伯塔省擁有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."
“我們相信SNDL將尋求穩定和優化業務,改善自由現金流趨勢,”祖阿尼克説,並補充説,他不會感到驚訝,“如果這個部門最終被剝離了兩年的前景。”
Lending
放貸
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宣佈通過Sunstream Bancorp,Inc.成立一家對半持股的合資企業。從那時起,這家合資企業就有了信貸組合由以下擔保債務和混合債務組成3.8億美元。在第一季度,該公司確認了Sunstream Bancorp合資公司410萬美元的利潤份額。
"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."
祖阿尼克説:“我們看到了Sunial從大麻零售、種植和借貸中創造的潛在協同效應。”日規是一種“投資者應密切關注的LP-至少我們為管理層的雄心壯志和遠見贏得了讚譽。
Photo: Courtesy of Nicholas Cappello on Unsplash
圖片:由Nicholas Cappello在Unspash上提供
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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