Motley Fool Trulieve Cannabis (TSXV:TRUL), CloudMD Software & Service (TSXV:DOC), and Enbridge (TSX:ENB)(NYSE:ENB) are three Canadian stocks I suggest buying in July. Here’s why.
Trulieve Cannabis
Trulieve Cannabis is a great stock to play the U.S. cannabis legalization. This company is the largest licensed operator of medical marijuana in Florida.
With a combined adjusted EBITDA of US$266 million and 2021 consensus Adjusted EBITDA of US$461 million, the company could be the most profitable cannabis company in the United States. In May, Trulieve reported a record first-quarter 2021 revenue of US$193.8 million, generating net income of US$30.1 million. On June 3, the company opened its first dispensary in the state of Massachusetts, allowing it to establish itself in a new market.
In the first quarter of 2022, the company reported first-quarter revenue of US$193.8 million — a 102% year-over-year jump. This result exceeded expectations by US$189.86 million. The net profit amounted to US$30.1 million.
Analysts on average expect the company to post earnings per share (EPS) of US$1.67 for 2022. This represents 42.7% year-over-year growth.
In addition, sales for 2022 are expected to reach US$1.25 billion — up 42% from the US$880.5 million for 2021.