High Tide Inc. (HITI) ended the recent trading session at $2.36, demonstrating a -1.26% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.14% for the day. On the other hand, the Dow registered a gain of 1.1%, and the technology-centric Nasdaq increased by 1.39%.
Coming into today, shares of the company had lost 0.42% in the past month. In that same time, the Medical sector lost 3.66%, while the S&P 500 gained 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 per share (EPS) are projected to be -$0.01, reflecting a 200% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $106.58 million, reflecting a 10.97% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.05 per share and revenue of $416.27 million, which would represent changes of -25% and +9.19%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for High Tide Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. High Tide Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 42% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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High Tide Inc. (HITI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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