Tilray Inc (NASDAQ:TLRY) – Analysts at Piper Jaffray Companies raised their Q1 2019 earnings estimates for Tilray in a note issued to investors on Sunday, March 17th. Piper Jaffray Companies analyst M. Lavery now forecasts that the company will earn ($0.27) per share for the quarter, up from their prior forecast of ($0.40). Piper Jaffray Companies has a “Buy” rating and a $90.00 price target 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.
A number of other research analysts also recently weighed in on the company. Roth Capital raised Tilray from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 20th. Jefferies Financial Group initiated coverage on Tilray in a research note on Friday, March 8th. They issued an “underperform” rating and a $61.00 price target on the stock. 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 target on the stock. Finally, Zacks Investment Research raised Tilray from a “sell” rating to a “hold” rating in a research note on Wednesday, December 26th. One investment 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. The stock has an average rating of “Hold” and an average target price of $106.52.
TLRY stock opened at $69.79 on Wednesday. The company has a quick ratio of 4.98, a current ratio of 5.43 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 (NASDAQ:TLRY) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.19). The company had revenue of $15.50 million during the quarter, compared to analyst estimates of $12.85 million. Tilray had a negative net margin of 121.22% and a negative return on equity of 60.74%. Tilray’s quarterly revenue was up 203.9% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. ETF Managers Group LLC bought a new stake in shares of Tilray in the 4th quarter valued at $40,553,000. Morgan Stanley bought a new stake in shares of Tilray in the 3rd quarter valued at $27,240,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Tilray in the 3rd quarter valued at $5,287,000. Artemis Investment Management LLP bought a new stake in shares of Tilray in the 3rd quarter valued at $6,519,000. Finally, Park West Asset Management LLC bought a new stake in shares of Tilray in the 4th quarter valued at $2,244,000. Institutional investors and hedge funds own 7.91% of the company’s stock.
In related news, 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 value of $11,125,266.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Castaneda sold 30,000 shares of the company’s stock in a transaction on 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. In the last 90 days, insiders sold 229,916 shares of company stock valued at $16,900,414.
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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