Zacks: Brokerages Expect Tilray Inc (TLRY) Will Post Quarterly Sales of $17.32 Million

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Wall Street brokerages forecast that Tilray Inc (NASDAQ:TLRY) will report $17.32 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Tilray’s earnings, with the highest sales estimate coming in at $27.20 million and the lowest estimate coming in at $12.24 million. The company is expected to announce its next quarterly earnings results on Tuesday, February 12th.

On average, analysts expect that Tilray will report full-year sales of $44.92 million for the current fiscal year, with estimates ranging from $39.84 million to $54.80 million. For the next year, analysts expect that the business will post sales of $245.08 million, with estimates ranging from $141.99 million to $442.20 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Tilray.

Tilray (NASDAQ:TLRY) last issued its earnings results on Tuesday, November 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The firm had revenue of $10.00 million for the quarter, compared to analyst estimates of $10.25 million. Tilray had a negative return on equity of 60.74% and a negative net margin of 121.22%. The company’s quarterly revenue was up 85.2% compared to the same quarter last year.

A number of brokerages recently commented on TLRY. Zacks Investment Research downgraded shares of Tilray from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. Piper Jaffray Companies began coverage on shares of Tilray in a research note on Wednesday, January 9th. They set an “overweight” rating and a $90.00 target price for the company. Finally, Benchmark began coverage on shares of Tilray in a research note on Tuesday, October 16th. They set a “buy” rating and a $200.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $124.25.

In other Tilray news, CRO Edward Wood Pastorius, Jr. sold 20,578 shares of the company’s stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $74.21, for a total value of $1,527,093.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brendan Kennedy sold 149,916 shares of the company’s stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $74.21, for a total transaction of $11,125,266.36. The disclosure for this sale can be found here. Insiders sold 199,916 shares of company stock valued at $14,787,514 in the last 90 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC acquired a new position in Tilray in the fourth quarter valued at $40,553,000. Morgan Stanley acquired a new position in Tilray in the third quarter valued at $27,240,000. DekaBank Deutsche Girozentrale acquired a new position in Tilray in the third quarter valued at $5,287,000. Artemis Investment Management LLP acquired a new position in Tilray in the third quarter valued at $6,519,000. Finally, Zimmer Partners LP acquired a new position in Tilray in the third quarter valued at $3,591,000. Institutional investors own 6.67% of the company’s stock.

Shares of TLRY stock traded down $3.82 on Wednesday, reaching $75.42. 1,724,600 shares of the stock were exchanged, compared to its average volume of 3,688,979. The company has a current ratio of 5.43, a quick ratio of 4.98 and a debt-to-equity ratio of 0.05. Tilray has a twelve month low of $20.10 and a twelve month high of $300.00.

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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Earnings History and Estimates for Tilray (NASDAQ:TLRY)

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