Atb Cap Markets Has Negative Outlook of SNDL FY2024 Earnings

SNDL Inc. (NASDAQ:SNDL) – Stock analysts at Atb Cap Markets dropped their FY2024 EPS estimates for SNDL in a research report issued on Tuesday, November 5th. Atb Cap Markets analyst F. Gomes now forecasts that the company will post earnings per share of ($0.09) for the year, down from their previous estimate of ($0.08). The consensus estimate for SNDL’s current full-year earnings is ($0.08) per share. Atb Cap Markets also issued estimates for SNDL’s Q4 2024 earnings at ($0.01) EPS and FY2025 earnings at ($0.01) EPS.

Separately, Canaccord Genuity Group began coverage on shares of SNDL in a research report on Wednesday, July 17th. They issued a “speculative buy” rating and a $3.25 target price for the company.

SNDL Stock Performance

NASDAQ SNDL opened at $1.98 on Friday. SNDL has a 52-week low of $1.30 and a 52-week high of $2.93. The firm has a 50-day moving average of $2.06 and a 200-day moving average of $2.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.98 and a current ratio of 5.61.

Institutional Investors Weigh In On SNDL

Several hedge funds and other institutional investors have recently made changes to their positions in SNDL. RMR Capital Management LLC acquired a new stake in SNDL in the third quarter valued at $103,000. Vontobel Holding Ltd. raised its position in shares of SNDL by 38.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 159,914 shares of the company’s stock worth $329,000 after acquiring an additional 44,579 shares in the last quarter. SG Americas Securities LLC acquired a new stake in SNDL during the third quarter worth approximately $33,000. Millennium Management LLC lifted its stake in SNDL by 138.7% in the second quarter. Millennium Management LLC now owns 2,080,069 shares of the company’s stock valued at $3,952,000 after buying an additional 1,208,556 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of SNDL in the 2nd quarter valued at $742,000.

About SNDL

SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use and medical markets; sells wines, beers, and spirits through wholly owned liquor stores; and private sale of recreational cannabis through wholly owned and franchised retail cannabis stores.