Equities analysts forecast that Tilray Inc (NASDAQ:TLRY) will announce $42.36 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Tilray’s earnings. The highest sales estimate is $47.80 million and the lowest is $30.00 million. Tilray posted sales of $9.74 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 334.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 27th.
According to Zacks, analysts expect that Tilray will report full-year sales of $200.92 million for the current fiscal year, with estimates ranging from $144.80 million to $262.30 million. For the next financial year, analysts anticipate that the company will post sales of $447.60 million, with estimates ranging from $340.00 million to $710.70 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Tilray.
Tilray (NASDAQ:TLRY) last announced its earnings results on Tuesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). Tilray had a negative return on equity of 58.43% and a negative net margin of 157.05%. The firm had revenue of $23.00 million for the quarter, compared to the consensus estimate of $20.50 million. Tilray’s revenue was up 194.9% compared to the same quarter last year.
Several research firms have weighed in on TLRY. Vertical Research began coverage on shares of Tilray in a research note on Friday, April 12th. They issued a “sell” rating for the company. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Tilray in a research note on Tuesday, April 2nd. BMO Capital Markets raised shares of Tilray from an “underperform” rating to a “market perform” rating and set a $50.58 price target for the company in a research note on Wednesday. Roth Capital reaffirmed a “hold” rating on shares of Tilray in a research note on Thursday, March 21st. Finally, Zacks Investment Research downgraded shares of Tilray from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Tilray currently has a consensus rating of “Hold” and an average price target of $89.71.
TLRY traded up $0.16 during midday trading on Wednesday, hitting $48.90. The company had a trading volume of 4,332,844 shares, compared to its average volume of 2,291,880. Tilray has a 52 week low of $20.10 and a 52 week high of $300.00. The company has a current ratio of 21.37, a quick ratio of 20.75 and a debt-to-equity ratio of 2.17. The company has a market cap of $4.50 billion and a P/E ratio of -59.63.
In other news, CRO Edward Wood Pastorius, Jr. sold 46,557 shares of Tilray stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.38, for a total transaction of $2,950,782.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Castaneda sold 30,000 shares of Tilray stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $70.43, for a total transaction of $2,112,900.00. The disclosure for this sale can be found here. Insiders have sold 196,109 shares of company stock valued at $12,522,598 over the last quarter. Corporate insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Lee Financial Co acquired a new position in shares of Tilray during the first quarter valued at about $25,000. Quantamental Technologies LLC acquired a new position in shares of Tilray during the first quarter valued at about $26,000. Toronto Dominion Bank acquired a new position in shares of Tilray during the fourth quarter valued at about $27,000. PNC Financial Services Group Inc. grew its holdings in shares of Tilray by 105.8% during the first quarter. PNC Financial Services Group Inc. now owns 463 shares of the company’s stock valued at $30,000 after buying an additional 238 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of Tilray by 2,500.0% during the first quarter. Synovus Financial Corp now owns 1,040 shares of the company’s stock valued at $69,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 7.07% 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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