Brokers Set Expectations for Tilray Inc’s Q2 2019 Earnings (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY) – Analysts at Oppenheimer issued their Q2 2019 earnings estimates for shares of Tilray in a note issued to investors on Tuesday, June 4th, according to Zacks Investment Research. Oppenheimer analyst R. Parikh anticipates that the company will post earnings per share of ($0.33) for the quarter. Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Tilray’s Q3 2019 earnings at ($0.36) EPS, Q4 2019 earnings at ($0.37) EPS, FY2019 earnings at ($1.32) EPS, FY2020 earnings at ($0.87) EPS and FY2021 earnings at ($0.04) EPS.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). Tilray had a negative return on equity of 43.71% and a negative net margin of 159.09%. The business had revenue of $23.00 million for the quarter, compared to analysts’ expectations of $20.50 million. The business’s revenue was up 194.9% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on the company. Consumer Edge began coverage on Tilray in a report on Friday. They issued an “overweight” rating and a $54.00 price target for the company. Compass Point lowered their price target on Tilray from $41.00 to $38.00 and set a “sell” rating for the company in a report on Monday, June 17th. Stifel Nicolaus assumed coverage on Tilray in a research report on Wednesday, June 5th. They set a “hold” rating and a $37.00 price objective for the company. Zacks Investment Research raised Tilray from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Piper Jaffray Companies lowered their target price on Tilray from $84.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $76.97.

Shares of NASDAQ TLRY traded up $2.74 during trading on Friday, reaching $49.30. The stock had a trading volume of 1,889,000 shares, compared to its average volume of 2,175,869. Tilray has a one year low of $20.10 and a one year high of $300.00. The company has a current ratio of 2.35, a quick ratio of 2.06 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $4.54 billion and a PE ratio of -60.12. The stock has a 50 day simple moving average of $43.45.

In related news, CFO Mark Castaneda sold 10,000 shares of Tilray stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $51.72, for a total transaction of $517,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christine St.Clare sold 4,000 shares of Tilray stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $50.01, for a total value of $200,040.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,109 shares of company stock worth $10,609,738. 3.40% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Zevenbergen Capital Investments LLC boosted its holdings in shares of Tilray by 37.1% during the first quarter. Zevenbergen Capital Investments LLC now owns 730,280 shares of the company’s stock worth $47,848,000 after acquiring an additional 197,540 shares during the period. Hellman Jordan Management Co. Inc. MA bought a new stake in shares of Tilray during the first quarter worth approximately $3,276,000. Stevens Capital Management LP bought a new stake in shares of Tilray during the first quarter worth approximately $2,106,000. Park West Asset Management LLC bought a new stake in shares of Tilray during the fourth quarter worth approximately $2,244,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Tilray during the fourth quarter worth approximately $2,119,000. Institutional investors and hedge funds own 2.10% of the company’s stock.

Tilray Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Nanaimo, Canada.

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