$170.07 Million in Sales Expected for Tilray Inc (NASDAQ:TLRY) This Quarter

Wall Street analysts expect Tilray Inc (NASDAQ:TLRY) to report $170.07 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Tilray’s earnings. The lowest sales estimate is $154.84 million and the highest is $179.20 million. The company is expected to issue its next earnings report on Monday, November 8th.

On average, analysts expect that Tilray will report full-year sales of $779.43 million for the current year, with estimates ranging from $725.29 million to $825.82 million. For the next fiscal year, analysts expect that the business will post sales of $942.86 million, with estimates ranging from $795.40 million to $1.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Tilray.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Wednesday, July 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company 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 brokerages have recently issued reports on TLRY. Alliance Global Partners dropped their price target on shares of Tilray from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, August 18th. Zacks Investment Research downgraded shares of Tilray from a “hold” rating to a “sell” rating in a report on Thursday, July 15th. Roth Capital dropped their price objective on shares of Tilray from $25.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 16th. CIBC downgraded shares of Tilray from an “outperform” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a report on Thursday, June 10th. Finally, Piper Sandler dropped their price objective on shares of Tilray from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, September 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tilray currently has a consensus rating of “Hold” and a consensus target price of $17.52.

Shares of NASDAQ TLRY traded up $0.48 during trading on Friday, reaching $11.70. 494,114 shares of the company traded hands, compared to its average volume of 28,621,643. The firm has a 50 day simple moving average of $13.53 and a 200-day simple moving average of $17.00. The company has a quick ratio of 1.56, a current ratio of 2.20 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.23 billion, a PE ratio of -6.15 and a beta of 2.61. Tilray has a 52-week low of $4.41 and a 52-week high of $67.00.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Tilray by 13.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,498,866 shares of the company’s stock worth $56,800,000 after purchasing an additional 300,700 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tilray by 230.9% during the second quarter. Vanguard Group Inc. now owns 1,720,811 shares of the company’s stock worth $31,112,000 after buying an additional 1,200,779 shares during the period. Bank of Montreal Can boosted its stake in Tilray by 738.2% during the second quarter. Bank of Montreal Can now owns 1,312,719 shares of the company’s stock worth $28,880,000 after buying an additional 1,156,112 shares during the period. Public Sector Pension Investment Board purchased a new position in Tilray during the second quarter worth $19,950,000. Finally, Swiss National Bank boosted its stake in Tilray by 221.6% during the second quarter. Swiss National Bank now owns 930,438 shares of the company’s stock worth $16,822,000 after buying an additional 641,138 shares during the period. Institutional investors own 11.34% 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.

See Also: Conference Calls

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.