|Bid||7.50 x 0|
|Ask||7.57 x 0|
|Day's Range||6.96 - 7.66|
|52 Week Range||4.95 - 14.37|
|Beta (5Y Monthly)||2.91|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Shares of Canadian pot producer Aprhia climbed nearly 10 per cent on Wednesday after the company announced a significant step towards improving sales in Europe’s largest cannabis market.
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:Toronto Stock Exchange (17,599.86, up 27.58 points).Bombardier Inc. (TSX:BBD.B). Industrials. Down one cent, or 0.78 per cent, to $1.28 on 19.9 million shares.Encana Corp. (TSX:ECA). Energy. Unchanged at $5.19 on 9.75 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Up eight cents, or 3.08 per cent, to $2.68 on 7.5 million shares.Aphria Inc. (TSX:APHA). Health care. Up 61 cents, or 8.78 per cent, to $7.56 on 7.1 million shares.Enbridge Inc. (TSX:ENB). Energy. Up 37 cents, or 0.69 per cent, to $53.67 on 5.6 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Up 28 cents, or 1.04 per cent, to $27.25 on 5.4 million shares. Companies in the news:Air Canada (TSX:AC). Down 16 cents to $48.68. Canada's two biggest airlines pushed back the return of the beleaguered 737 Max after airplane maker Boeing Co. said it did not expect regulators to green-light the jet for takeoff until the middle of the year. The delay until late June by Air Canada and WestJet Airlines Ltd. follows similar moves by American Airlines, United Airlines and Southwest Airlines, further jeopardizing routes and profit margins. The U.S. Federal Aviation Administration and Boeing have continued to find defects with the aircraft that fall outside of the automated software system known as MCAS.SNC-Lavalin Inc. (TSX:SNC). Down 14 cents to $31.62. SNC-Lavalin Inc. has recruited a former Bombardier executive who oversaw key asset sales to oversee the engineering and construction firm's strategic transformation. Louis Veronneau will take on the new role of chief transformation officer, which includes possible divestments and reducing costs. As president of the infrastructure sector, Jonathan Wilkinson will look, among other things, at the existing turnkey projects while Dale Clarke has been appointed acting executive vice-president of infrastructure services to grow North American "high performance" services, such as those involving engineering.Rogers Communications Inc. (TSX:RCI.B). Up $2.10 or 3.2 per cent to $66.67. Rogers Communications Inc. plans to spend nearly $3 billion on capital investments this year but that could be reduced if the regulatory environment becomes less favourable, Rogers chief executive Joe Natale said Wednesday. The Toronto-based company issued 2020 guidance that includes an estimate of between $2.7 billion and $2.9 billion of capital expenditures this year, but that's assuming there's no negative changes to the regulatory environment. The warning comes as the Trudeau government and the industry's regulator work to chart a path through several contentious issues that will affect Rogers, Bell and many other Canadian telecommunications and media companies.This report by The Canadian Press was first published Jan. 22, 2020. The Canadian Press
(Bloomberg) -- Tough times in the cannabis industry aren’t stopping its leaders from going to Davos.For the second year in a row, there will be a Cannabis House in Davos, Switzerland this week alongside the schmoozing and speeches of the World Economic Forum. The 2020 offering promises to be “a little more formal and more professional” than last year’s, according to Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group, one of the sponsors of the Cannabis House.Cannabis House will feature a two-day conference focused on the themes of Davos 2020, including sustainability, climate change, social equity and impact investing.The rout in pot stocks hasn’t dampened interest in the event, which will also include “a professional capital markets discussion,” Paltrowitz said.The agenda has an international flavor, with speakers from Israel, Switzerland and Asia.The goal is to get delegates from the World Economic Forum to pop in and learn about the industry, said Richard Carleton, chief executive officer of the Canadian Securities Exchange, another sponsor.“What was particularly interesting to me last year was how many European institutional investors, everybody from family office managers, hedge funds, right up to some of the largest pension funds in the world” stopped by Cannabis House, Carleton said. “They hadn’t invested yet but were there to learn.”Stock ReboundInvestors seemed to be in the mood to celebrate successes rather than punish failures last week.Pot stocks ended the week significantly higher, with the BI Global Cannabis Competitive Peers Index up 15% and the Canadian-focused Horizons Marijuana Life Sciences Index ETF adding 18%, its biggest weekly increase since August 2018. The gains came despite Aphria Inc.’s earnings miss and cut to its full-year guidance, which sent its shares down 8.6% on Tuesday.Instead, investors focused on positive results from Aphria’s smaller competitor Organigram Holdings Inc. Organigram’s U.S.-traded shares surged 45% Wednesday after it reported positive adjusted Ebitda and revenue that beat the highest analyst estimate. That sent the entire sector rallying, and even Aphria’s shares ended the week higher.Given how fast investors have been to punish missteps in recent months, could this be a sign that the sector has bottomed out?There are positive signs in the capital markets too, according to data from Viridian Capital Advisors. In the first two weeks of 2020, seven capital raises worth a total of $250 million were completed. Although the number of deals was lower than the 15 done in the first two weeks of 2019, the average deal size was more than 2.5 times bigger than the same period of last year, Viridian said.Events This WeekMONDAY 1/20Cannabis House hosts “a global cannabis conversation” in Davos, Switzerland alongside the World Economic Forum, through Jan. 21U.S. markets closed for Martin Luther King Jr. DayWEDNESDAY 1/22CannaWest addresses regulatory issues in the industry; the event runs in Los Angeles through Jan. 24THURSDAY 1/23A one-day Cannabis Conclave will be held in Davos, SwitzerlandLast Week’s Top StoriesOrganigram Surge Lifts Sector Despite Lingering UncertaintyCanopy Delays Cannabis Beverage Launch at Most Inopportune TimeBirthplace of Semi-Legal Pot Risks Falling Behind U.S.Congress Wants More People Growing Pot for Cannabis ResearchTo contact the reporter on this story: Kristine Owram in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Will DaleyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Here are some important takeways from Aphria's (TSX:APHA)(NYSE:APHA) latest earnings report that may influence its stock price in the near term.
Aphria Inc. slashed its outlook after a delay in opening additional Ontario cannabis stores and a ban on vape products in Alberta.The Leamington, Ont.-based cannabis company said Tuesday that it now expects net revenue for its 2020 financial year to be between $575 million and $625 million.It had previously predicted that total would be between $650 million and $700 million.Aphria also said its adjusted earnings before interest, taxes, depreciation and amoritization will now amount to between $35 million and $42 million, rather than between $88 million and $95 million.Shares in the company behind brands including Solei, Broken Coast Cannabis, RIFF and Good Supply were down 63 cents or about nine per cent at $6.47 in early trading on the Toronto Stock Exchange.Aphria chief financial officer Carl Merton said the company was being hampered by a delay in opening another wave of cannabis stores in Ontario. The province recently announced it would abandon a controversial lottery-based system that allowed 25 Canadians to open pot stores in Ontario last April, but people hoping to open new stores might not get the go-ahead until spring. "That certainly had the biggest impact," Merton told a conference call to discuss the company's latest financial results."The province of Alberta's temporary ban was next in order of priority."Despite it becoming legal to sell vaping cannabis products in most provinces in December, Alberta is still studying its Tobacco and Smoking Reduction Act and has yet to allow such products."They've been a little bit tight-lipped on the full details of it. They just want to take the right steps for their consumers," chief executive Irwin Simon said. "Based on those conversations, we feel that that's an April decision, not something that's going to happen in the next two, three weeks."Aphria was also weighed down by the cost of having to buy third-party cannabis to "meet current market demands." Aphria didn't receive its cultivation license from Health Canada for subsidiary Aphria Diamond until November.The company reported a net loss of $7.9 million or three cents per share for the quarter ended Nov. 30 compared with a profit of $54.8 million or 22 cents per share in the same quarter a year ago.Net revenue in the quarter totalled $120.6 million, up from $21.7 million a year earlier.Aphria also announced that Simon, who has been serving as interim chief executive since last February, would drop the interim from his title.Simon, who is also Aphria's chairman, said he was optimistic about the company's future given the demand the industry is experiencing and how quickly Aphria managed to roll out vape products, making them among the first to dive into that part of the industry.He said the company was confident it can continue generating customers, especially those who would typically buy from the underground market."There's lots of plans in place at Aphria how we continuously move consumers over from the illicit market into the regulated market," he said.This report by The Canadian Press was first published Jan. 14, 2020.Companies in this story: (TSX:APHA)Tara Deschamps, The Canadian Press
(Bloomberg) -- A dividend-paying pot stock may sound like a contradiction but for the first time it’s being raised as a possibility.Aphria Inc. would like to return money to shareholders, Chief Financial Officer Carl Merton told analysts on the company’s earnings call Tuesday.The Canadian cannabis producer has posted three consecutive quarters of positive adjusted Ebitda, a rarity in the industry, and aims to continue that trend “to both internally finance future growth initiatives and, in the future, being in the position to provide an annual return to our shareholders through dividends,” Merton said.It’s a bold statement in an emerging industry that’s seen its benchmark ETFs plunge more than 60% since March amid disappointing earnings results, which have included large Ebitda losses from most companies. While Aphria stands out for its profitability, the numbers are tiny with second-quarter adjusted Ebitda coming in at C$1.9 million.Shares fell as much as 11% in early trading after the company missed second-quarter revenue estimates and cut its full-year forecast. At the end of the quarter, it had nearly C$500 million of cash and cash equivalents.To contact the reporter on this story: Kristine Owram in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
(Bloomberg) -- Aphria Inc. shares fell 8% in pre-market trading after the Canadian cannabis producer missed the lowest revenue estimate and cut its guidance for the current fiscal year.The company reported second-quarter net revenue of C$121 million, below the consensus estimate of C$130 million. Its adjusted Ebitda was C$1.9 million, the third consecutive quarter of positive results.Aphria cut its full-year revenue forecast to a range of C$575 million to C$625 million, down from its prior outlook of C$650 million to C$700 million. It now expects to report full-year adjusted Ebitda of C$35 million to C$42 million, down from C$88 million to C$95 million previously.The pot producer cited a slower-than-expected rollout of retail stores in its home province of Ontario, the temporary banning of vape products in Alberta, the higher cost of sourcing third-party cannabis while it waited to receive a license for its Aphria Diamond greenhouse and a slowdown at its German operations due to changes in the government’s medical reimbursement model.Chief Executive Officer Irwin Simon said he expects sales and profitability to accelerate in the second half of fiscal 2020. Speaking on the company’s earnings call, he also said Aphria is considering non-core asset sales “to further streamline our business and reduce capex over time.”Cannabis stocks were broadly lower Tuesday morning after rallying on Monday. Cronos Group Inc. fell 3.2%, Canopy Growth Corp. lost 2.4% and Aurora Cannabis Inc. slid 2.3%.(Updates with CEO comment in fifth paragraph)To contact the reporter on this story: Kristine Owram in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Steven FrommFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
With the carnage the Canadian marijuana industry has been facing since last year, Aphria stock has a strong chance of coming out as a survivor.
Is the legal marijuana industry down for the count, or will it make an epic comeback in 2020? Let's see what the future holds for it.