SNDL - Sundial Growers Inc.
| Previous Close | 1.3500 |
| Open | 1.3400 |
| Bid | 1.3300 x 1400 |
| Ask | 1.3400 x 1300 |
| Day's Range | 1.2900 - 1.3900 |
| 52 Week Range | 1.1000 - 13.2200 |
| Volume | 776,670 |
| Avg. Volume | 1,607,719 |
| Market Cap | 143.024M |
| Beta (5Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | Nov 12, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 4.80 |
- TipRanks
3 Cannabis Companies With New Executive Leadership To Lead Turnarounds
The cannabis market enters 2020 with plenty of catalysts for higher sales and profits. A lot of companies have made changes in executive leadership to handle the next phase of growth as legalization in cannabis markets slowly progresses and public market veterans are more apt to join the sector.Due to a wide-open market opportunity and readily available capital, most industry participants have gone guns blazing into nearly every segment of the cannabis market. The global cannabis market is expected to be worth $200 billion, but industry participants must deal with the current environment in order to survive and thrive.The executive leadership team best equipped to focus on particular market strengths will reward shareholders. The company able to streamline operations while maintaining growth should see the biggest stock rebounds as capital requirements disappear in a tough funding environment. Not to mention the stronger companies can utilize available capital, whether equity or cash, to snap up beaten-down players, helping consolidate the industry and eliminate competition.While Canopy Growth (CGC) made headlines after replacing its CEO with a Constellation Brands (STZ) executive, we wanted to look into three other Canadian companies that could see their big corporate pivots reward shareholders:Tilray (TLRY)On January 15, Tilray, which has seen dramatic highs and lows, announced a new COO and CFO. Current CFO Mark Castaneda will transition to Strategic Business Development after leading Tilray on the wild IPO ride to $300 back in 2018. Ever since, the company has failed to impress the market due to substantial operating losses.The two new executives come with impressive backgrounds. New CFO Michael Kruteck was the CFO of Pharmaca Integrative Pharmacy, with prior senior financial roles at beverage giant Molson Coors (TAP).COO Jon Levin came from Revlon (REV), where he was responsible for consumer products sold through major retailers in the U.S. Both executives have the crucial experience in the beverages and CPG segments, areas Tilray wants to expand in 2020 and beyond.As with most of the other cannabis stocks, the founding CEO remains in the leadership role. The big question is whether anything changes at Tilray with the moves at the top.When Tilray reports Q4 results, the market will eagerly pay attention to whether the company undergoes any type of restructuring. For Q3, the company reported revenues of $51.0 million, but the net loss was $49.1 million, and the EBITDA loss was a rather large $23.5 million.The market cap is down to below $2.0 billion, so the new executives will need to work wonders to justify the market value on only $310 million in 2020 revenues.When it comes to Wall Street, analysts are taking a cautious approach. In the last three months, the stock has received 3 Buy ratings, 7 Holds and 1 Sell, making the Street consensus a Hold. However, the $25.88 average price target implies that shares could climb 53% higher in the next twelve months. (See Tilray price targets and analyst ratings on TipRanks) Sundial (SNDL)Sundial hasn’t gotten a lot of media attention after going public back in August when the cannabis industry was already struggling. On January 30, the CEO and COO both left the company. Very few companies see several top executives exit within six months of the IPO.Along with the executive departures, Sundial will implement a cost-cutting initiative to generate C$10-$15 million in savings for 2020. Back in November, the company reported that in Q3, revenues hit C$33 million and it boosted production nearly 10-fold within two quarters to 11,700 kg of premium cannabis.For the quarter, adjusted EBITDA loss was C$7.9 million as the company scaled production and expanded into Europe with the purchase of agricultural indoor producer Bridge Farm. The market most likely isn’t fond of Sundial boosting EBITDA losses and building out operations in the UK.Additionally, the stock took a big hit at the end of the week due to the executive shuffle. However, the interim CEO’s cost-cutting initiative is a positive first step for a company whose $140 million in cash on the balance sheet from the IPO makes a turnaround a very real possibility.The rest of the Street is bearish on SNDL, with 1 Buy call and 2 Sells adding up to a Moderate Sell consensus rating. It should be noted, though, that the $4 average price target puts the upside potential at 231%. (See Sundial stock analysis on TipRanks) HEXO (HEXO)HEXO replaced the CFO just prior to announcing a massive cut to FY20 guidance. The company had the least impressive executive shuffle, promoting the VP of Strategic Finance to the new role and keeping the founding CEO at the helm of the company.Since the CFO’s replacement, HEXO has launched the Original Stash cannabis value brand and raised over $100 million in cash to fund operations. The biggest issue remains the reorganization to cut costs, with the prior CFO’s efforts not anywhere near enough for the company to reach positive EBITDA in the near term.In its most recent quarter, HEXO gross margins were only 31% and the company had several impairment charges. Prior CFO Michael Monahan, who previously worked at Nutrisystem, was highly regarded, but the issues were blamed on him not working at the Canadian facilities during this ramp up period.Under the new CFO, HEXO will have to show that more dedicated leadership will lead to better product development and cost containment to match a more realistic market opportunity as 2020 progresses.The Canadian cannabis company can’t maintain C$33 million quarterly losses when revenues are only C$14.5 million and not forecasted to top C$26 million well into 2020. Even strong 50% gross margins won’t solve their current financial predicament.As with the above stocks, any sign the new executive is leading the charge to a turnaround could present a unique buying opportunity. Since the company is streamlining the business on top of cutting cultivation capacity, a move to exit certain business lines while doubling down on the promising value brand or cannabis-infused beverages would be bullish indications.Looking at the consensus breakdown, a single Buy rating, 5 Holds and 4 Sells coalesce into a Moderate Sell. Should the $1.83 average price target be met, a 44% twelve-month gain could be in the cards. (See HEXO price targets and analyst ratings on TipRanks) Disclosure: No position. Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.
- PR Newswire
Sundial Announces Departure of CEO and other Leadership Changes and Optimization Initiatives
Sundial Growers Inc. (Nasdaq: SNDL) ("Sundial" or "the Company") announces certain changes to its executive team and board of directors (the "Board") as described below.
- Market Exclusive
Sundial to Supply Medical Cannabis Oil for Australian Clinical Studies
Canadian licensed cannabis producer Sundial Growers (NASDAQ: SNDL) and Australian importer and manufacturer of medical cannabis Vir Pharma Holdings Pty Ltd. (NASDAQ: VIR) have signed a three-year medical cannabis supply agreement. Under the deal, Sundial will supply medical cannabis oil for Vir Pharma's oral formulation for chronic pain that will be used for sales and clinical studies in Australia. […]The post Sundial to Supply Medical Cannabis Oil for Australian Clinical Studies appeared first on Market Exclusive.
CNW Group/C O R R E C T I O N from Source -- Sundial Growers Inc./
/C O R R E C T I O N from Source -- Sundial Growers Inc./
- CNW Group
Sundial and Vir Pharmaceuticals Sign Medical Cannabis Supply Agreement for Australian Chronic Pain Clinical Studies
Sundial and Vir Pharmaceuticals Sign Medical Cannabis Supply Agreement for Australian Chronic Pain Clinical Studies
- CNW Group
Horizons ETFs Rebalances Marijuana-Focused Index ETF Suite
Horizons ETFs Rebalances Marijuana-Focused Index ETF Suite
- Benzinga
The Week In Cannabis: Federal Spending Bill, Vaping Bans And More Corporate Carnage
As the end of 2019 approaches, the cannabis industry and related parties seek to end a harsh year on a positive note. On the bright side, the U.S. House and Senate agreed to include a few marijuana, hemp and CBD-related provisions in federal spending bills, the EPA came out with a list of approved pesticides for hemp growers in 2020, New Jersey decided to put an adult-use marijuana legalization referendum in next year’s ballot, and South Dakota’s Secretary of State Steve Barnett said the petition submitted for an initiated measure on medical marijuana legalization was validated and filed by his office Thursday. Back to federal spending, lawmakers agreed on a $1.4 trillion government-wide 2020 spending package containing two spending bills, one of which touches on hemp-derived CBD and provides the FDA and USDA with $2 million for research, policy evaluation, market surveillance and issuance of an enforcement discretion policy.
CNW GroupSundial Announces 2020 Launch of Medical Cannabis Marketplace
Navigating the process to access medical cannabis can be confusing to patients, and this content rich e-commerce platform aims to streamline the process. In delivering an elevated medical Cannabis experience to Canadians, Sundial will also leverage its research capabilities created by the 50% acquisition of Pathway Rx Inc. (PathwayRx). PathwayRx will implement learnings from its research to develop unique medical cannabis products targeted for use with specific medical conditions.
- PR Newswire
Sundial Announces New Board Member Bryan Pinney
Sundial Growers Inc. (Nasdaq: SNDL) ("Sundial") and Greg Mills, Chair of the Board, are pleased to announce that Bryan Pinney has been appointed to the Board of Directors ("Board"), effective December 18, 2019. Mr. Pinney will also be the Chair of the Audit Committee of the Board.
- Insider Monkey
Do Hedge Funds Love Sundial Growers Inc. (SNDL)?
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter. One of these stocks was Sundial Growers Inc. (NASDAQ:SNDL). Is Sundial Growers Inc. (NASDAQ:SNDL) ready […]
- Benzinga
Sundial Growers Announces Premium Cannabis Brand Top Leaf
Sundial Growers Inc (Nasdaq: SNDL) announced the launch Thursday of the premium cannabis brand Top Leaf. A big portion of Canadian cannabis consumers prefer spending more money on premium quality products, according to a BDS Analytics consumer insights survey cited by Sundial Growers. The Top Leaf product portfolio will include high-quality cannabis buds, pre-rolls and vape formats, according to Sundial.
CNW GroupSundial Launches Top Leaf: Premium Cannabis For the Connoisseur
CALGARY , Dec. 12, 2019 /CNW/ - More than one-third of Canadian consumers are willing to spend more money for quality products, according to the latest BDS Analytics Consumer Insights Survey (Q1 2019). Created by and for cannabis enthusiasts and connoisseurs, consumers will not only be able to enjoy the highest quality cannabis in traditional flower and pre-roll formats, but in new vape formats as well.
- Benzinga
Benzinga Heads To Miami For The First Cannabis Capital Conference Of 2020
DETROIT — The premier gathering of cannabis entrepreneurs and investors in North America, the Benzinga Cannabis Capital Conference , is heading to Miami in 2020 for its sixth installment. The conference, ...
CNW GroupSundial Announces New Board Member
CALGARY , Nov. 28, 2019 /CNW/ - Sundial Growers Inc. (Nasdaq: SNDL) ("Sundial") and Greg Mills , Chair of the Board, are pleased to announce that Zachary George has been appointed to the Board of Directors ("Board"), effective November 27, 2019 . Mr. George will also be the Chair of the newly formed Operations and Capital Committee of the Board. "We are excited to welcome Zach as a new director to Sundial's Board," said Ted Hellard , Executive Chairman of Sundial.
- ACCESSWIRE
FINAL DEADLINE ALERT - Sundial Growers Inc. (SNDL) - Bronstein, Gewirtz & Grossman, LLC Reminds of Class Action and Lead Plaintiff Deadline: November 25, 2019
NEW YORK, NY / ACCESSWIRE / November 25, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Sundial Growers Inc. ("Sundial" or the ...
- GlobeNewswire
SNDL FINAL DEADLINE TODAY: ROSEN, A TOP RANKED LAW FIRM, Reminds Sundial Growers Inc. Investors of Important November 25th Deadline in Securities Class Action – SNDL
NEW YORK, Nov. 25, 2019 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Sundial Growers Inc. (NASDAQ: SNDL) pursuant and/or.
- ACCESSWIRE
SNDL DEADLINE TODAY: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Sundial Growers (SNDL) Investors of Today’s Deadline to Move for Lead Plaintiff
SAN FRANCISCO, CA / ACCESSWIRE / November 25, 2019 / Hagens Berman alerts Sundial Growers Inc. ( NASDAQ:SNDL ) investors of today's deadline to move for lead plaintiff in a securities fraud class action ...
- GlobeNewswire
SUNDIAL 24 HOUR DEADLINE ALERT: FORMER LOUISIANA ATTORNEY GENERAL AND KAHN SWICK & FOTI, LLC REMIND INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Deadline in Class Action Lawsuits Against Sundial Growers Inc. - SNDL
NEW ORLEANS, Nov. 24, 2019 -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they.
- GlobeNewswire
FINAL DEADLINE ALERT: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Sundial Growers (SNDL) Investors Who Suffered Significant Losses to Contact Its Attorneys Immediately, Application Deadline is Approaching
SAN FRANCISCO, Nov. 24, 2019 -- Hagens Berman urges Sundial Growers Inc. (NASDAQ: SNDL) investors who have suffered losses in excess of $50,000 to submit their losses now or.
- PR Newswire
SUNDIAL DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Sundial Growers Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Sundial Growers Inc. ("Sundial" or the "Company")(NASDAQ:SNDL) of the November 25, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
