Brokerages Anticipate Tilray Inc (NASDAQ:TLRY) to Post -$0.05 Earnings Per Share

Wall Street analysts expect Tilray Inc (NASDAQ:TLRY) to report earnings of ($0.05) per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Tilray’s earnings, with estimates ranging from ($0.07) to ($0.01). The company is scheduled to announce its next earnings report on Monday, November 8th.

According to Zacks, analysts expect that Tilray will report full year earnings of ($0.13) per share for the current fiscal year, with EPS estimates ranging from ($0.24) to $0.01. For the next financial year, analysts forecast that the company will post earnings of ($0.01) per share, with EPS estimates ranging from ($0.21) to $0.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Tilray.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Wednesday, July 28th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). The business had revenue of $142.24 million for the quarter, compared to analysts’ expectations of $142.93 million. Tilray had a negative net margin of 104.82% and a negative return on equity of 7.72%.

A number of analysts recently commented on TLRY shares. MKM Partners restated a “hold” rating and set a $16.00 price target on shares of Tilray in a research note on Thursday, July 29th. Cantor Fitzgerald lowered their target price on shares of Tilray from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, September 17th. Alliance Global Partners lowered their target price on shares of Tilray from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 18th. Roth Capital lowered their target price on shares of Tilray from $25.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, September 16th. Finally, CIBC cut shares of Tilray from an “outperform” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research note on Thursday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.52.

Shares of TLRY stock traded up $0.48 during trading on Friday, reaching $11.70. 494,114 shares of the company’s stock traded hands, compared to its average volume of 28,621,643. The company has a market capitalization of $5.23 billion, a P/E ratio of -6.15 and a beta of 2.61. The company has a current ratio of 2.20, a quick ratio of 1.56 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average is $13.53 and its 200 day moving average is $17.00. Tilray has a 1 year low of $4.41 and a 1 year high of $67.00.

In other news, Director Brendan Kennedy sold 300,000 shares of the firm’s stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $14.08, for a total transaction of $4,224,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.17% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TLRY. North Star Investment Management Corp. grew its holdings in shares of Tilray by 740.7% during the 2nd quarter. North Star Investment Management Corp. now owns 1,589 shares of the company’s stock valued at $29,000 after purchasing an additional 1,400 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Tilray during the 2nd quarter valued at $29,000. Firestone Capital Management grew its holdings in shares of Tilray by 81.5% during the 2nd quarter. Firestone Capital Management now owns 1,779 shares of the company’s stock valued at $32,000 after purchasing an additional 799 shares during the last quarter. Focused Wealth Management Inc grew its holdings in shares of Tilray by 2,868.9% during the 2nd quarter. Focused Wealth Management Inc now owns 1,811 shares of the company’s stock valued at $33,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Allworth Financial LP bought a new position in shares of Tilray during the 2nd quarter valued at $35,000. 11.34% 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.

Read More: How does new data get added to a blockchain?

Get a free copy of the Zacks research report on Tilray (TLRY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Tilray (NASDAQ:TLRY)

Receive News & Ratings for Tilray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tilray and related companies with MarketBeat.com's FREE daily email newsletter.