Analysts Anticipate Tilray Inc (NASDAQ:TLRY) Will Post Earnings of -$0.23 Per Share

Analysts expect Tilray Inc (NASDAQ:TLRY) to announce ($0.23) earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Tilray’s earnings, with estimates ranging from ($0.35) to ($0.12). Tilray reported earnings of ($0.17) per share during the same quarter last year, which would indicate a negative year over year growth rate of 35.3%. The firm is expected to issue its next earnings results on Tuesday, August 27th.

On average, analysts expect that Tilray will report full-year earnings of ($0.89) per share for the current year, with EPS estimates ranging from ($1.38) to ($0.42). For the next fiscal year, analysts forecast that the company will post earnings of ($0.36) per share, with EPS estimates ranging from ($1.05) to $0.24. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Tilray.

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

TLRY has been the topic of a number of recent analyst reports. Alliance Global Partners initiated coverage on Tilray in a research note on Monday, May 13th. They issued a “neutral” rating and a $50.00 price objective on the stock. Piper Jaffray Companies decreased their target price on Tilray from $84.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 15th. Oppenheimer began coverage on Tilray in a research report on Tuesday, June 4th. They set a “market perform” rating on the stock. Stifel Nicolaus began coverage on Tilray in a research report on Wednesday, June 5th. They set a “hold” rating and a $37.00 target price on the stock. Finally, Jefferies Financial Group began coverage on Tilray in a research report on Friday, March 8th. They set an “underperform” rating and a $61.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Tilray currently has a consensus rating of “Hold” and a consensus target price of $79.27.

Tilray stock opened at $49.71 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.06 and a current ratio of 2.35. The stock has a market capitalization of $4.42 billion and a PE ratio of -60.62. Tilray has a 52 week low of $20.10 and a 52 week high of $300.00.

In other Tilray news, CFO Mark Castaneda sold 10,000 shares of Tilray stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. Also, insider Brendan Kennedy sold 106,109 shares of Tilray stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $63.44, for a total value of $6,731,554.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,109 shares of company stock worth $10,409,698. 3.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its holdings in Tilray by 247.4% during the fourth quarter. California Public Employees Retirement System now owns 5,617 shares of the company’s stock valued at $396,000 after purchasing an additional 4,000 shares in the last quarter. Regal Investment Advisors LLC acquired a new stake in Tilray during the first quarter valued at approximately $201,000. Millennium Management LLC boosted its holdings in Tilray by 255.6% during the fourth quarter. Millennium Management LLC now owns 8,402 shares of the company’s stock valued at $593,000 after purchasing an additional 6,039 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Tilray by 132.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,395 shares of the company’s stock valued at $592,000 after purchasing an additional 4,788 shares in the last quarter. Finally, Hellman Jordan Management Co. Inc. MA acquired a new stake in Tilray during the first quarter valued at approximately $3,276,000. 2.10% of the stock is currently owned by institutional investors.

About Tilray

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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