Tilray Inc (NASDAQ:TLRY) – Investment analysts at Piper Jaffray Companies raised their Q1 2019 earnings per share estimates for shares of Tilray in a research report issued to clients and investors on Sunday, March 17th. Piper Jaffray Companies analyst M. Lavery now anticipates that the company will post earnings per share of ($0.27) for the quarter, up from their previous forecast of ($0.40). Piper Jaffray Companies currently has a “Buy” rating and a $90.00 target price on the stock. Piper Jaffray Companies also issued estimates for Tilray’s Q2 2019 earnings at ($0.35) EPS, Q3 2019 earnings at ($0.38) EPS, Q4 2019 earnings at ($0.35) EPS, FY2019 earnings at ($1.36) EPS, Q1 2020 earnings at ($0.26) EPS, Q2 2020 earnings at ($0.11) EPS, Q3 2020 earnings at $0.05 EPS, Q4 2020 earnings at $0.09 EPS and FY2020 earnings at ($0.23) EPS.
Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.19). The business had revenue of $15.50 million during the quarter, compared to analysts’ expectations of $12.85 million. Tilray had a negative net margin of 157.05% and a negative return on equity of 76.39%. The business’s revenue for the quarter was up 203.9% on a year-over-year basis.
Several other research firms have also weighed in on TLRY. Zacks Investment Research lowered Tilray from a “hold” rating to a “sell” rating in a research note on Saturday, December 8th. Jefferies Financial Group set a $61.00 price objective on Tilray and gave the company a “sell” rating in a research note on Tuesday. Seaport Global Securities initiated coverage on Tilray in a research note on Thursday, February 21st. They issued a “neutral” rating and a $81.10 price objective on the stock. Finally, Roth Capital raised Tilray from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $106.52.
TLRY opened at $70.73 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.43 and a quick ratio of 4.98. The stock has a market capitalization of $6.73 billion and a price-to-earnings ratio of -86.26. Tilray has a 12 month low of $20.10 and a 12 month high of $300.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new position in Tilray during the 4th quarter worth approximately $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Tilray during the 4th quarter worth approximately $71,000. Bronfman E.L. Rothschild L.P. lifted its position in Tilray by 7,266.7% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,105 shares of the company’s stock worth $78,000 after acquiring an additional 1,090 shares in the last quarter. Captrust Financial Advisors acquired a new position in Tilray during the 3rd quarter worth approximately $103,000. Finally, IFP Advisors Inc lifted its position in Tilray by 61.0% during the 4th quarter. IFP Advisors Inc now owns 1,729 shares of the company’s stock worth $130,000 after acquiring an additional 655 shares in the last quarter. 7.91% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Brendan Kennedy sold 149,916 shares of Tilray stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $74.21, for a total value of $11,125,266.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Edward Wood Pastorius, Jr. sold 20,578 shares of Tilray stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $74.21, for a total value of $1,527,093.38. The disclosure for this sale can be found here. Insiders sold a total of 229,916 shares of company stock worth $16,900,414 over the last ninety days.
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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