On today’s TSX Breakouts report, there are just two stocks on the positive breakouts list , and 169 stocks are on the negative breakouts list .
A brief outline on Jamieson Wellness is provided below that may serve as a springboard for further fundamental research when conducting your own due diligence.Toronto-based Jamieson Wellness manufactures and distributes natural health products including vitamins and minerals, supplements, digestive health products, sleep aids and herbal extracts. The company’s products are sold in over 45 regions globally.
The Jamieson brand is the best-selling brand by sales in Canada within the VMS market. Other brands include Progressive, Precision, Iron Vegan and Smart Solutions. Through the company’s Strategic Partners segment, Jamieson Wellness co-manufactures products for blue-chip companies. The company reported adjusted EBITDA of $24.4-million, slightly above the consensus estimate of $23.9-million and up 9.5 per cent year-over-year. The adjusted EBITDA margin was 21.8 per cent, up from 20.2 per cent reported last year. Adjusted earnings per share came in at 32 cents, two cents ahead of the consensus estimate, and up 10 per cent year-over-year.
The following day, the share price rallied 2 per cent on high volume with approximately 209,000 shares traded, above the three-month historical daily average trading volume of approximately 103,000 shares.This small-cap consumer staples stock with a market capitalization of nearly $1.4-billion is actively covered by 10 analysts, of which nine analysts have buy recommendations and one analyst has a ‘sector perform’ recommendation.
The stock is trading at a price-to-earnings multiple of 17.7 times the 2023 consensus estimate, below its five-year historical average multiple of 23 times and approaching its lowest level seen over the past five years .