Tilray (NASDAQ:TLRY) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Tilray (NASDAQ:TLRY) posted its quarterly earnings results on Tuesday. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.09), Briefing.com reports. Tilray had a negative net margin of 159.09% and a negative return on equity of 43.71%. The company had revenue of $45.90 million for the quarter, compared to the consensus estimate of $40.25 million. During the same period in the prior year, the firm posted ($0.17) EPS. The business’s revenue was up 373.2% on a year-over-year basis.

Shares of TLRY stock opened at $39.68 on Wednesday. The stock has a market capitalization of $4.14 billion and a price-to-earnings ratio of -48.39. The company’s 50 day simple moving average is $44.19. The company has a current ratio of 2.35, a quick ratio of 2.06 and a debt-to-equity ratio of 1.13. Tilray has a 52-week low of $24.00 and a 52-week high of $300.00.

In related news, Director Christine St.Clare sold 4,000 shares of Tilray stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $50.01, for a total transaction of $200,040.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Lee Financial Co purchased a new position in Tilray in the first quarter worth $25,000. Quantamental Technologies LLC purchased a new position in Tilray in the first quarter worth $26,000. PNC Financial Services Group Inc. grew its holdings in Tilray by 105.8% in the first quarter. PNC Financial Services Group Inc. now owns 463 shares of the company’s stock worth $30,000 after purchasing an additional 238 shares during the last quarter. Certified Advisory Corp grew its holdings in Tilray by 152.1% in the second quarter. Certified Advisory Corp now owns 1,041 shares of the company’s stock worth $48,000 after purchasing an additional 628 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in Tilray by 2,500.0% in the first quarter. Synovus Financial Corp now owns 1,040 shares of the company’s stock worth $69,000 after purchasing an additional 1,000 shares during the last quarter. 2.28% of the stock is currently owned by institutional investors.

TLRY has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Tilray from an “underperform” rating to a “hold” rating and decreased their price target for the company from $61.00 to $57.00 in a research note on Friday, May 3rd. Benchmark decreased their price target on shares of Tilray from $200.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer initiated coverage on shares of Tilray in a report on Tuesday, June 4th. They set a “market perform” rating on the stock. Stifel Nicolaus reissued a “hold” rating on shares of Tilray in a report on Wednesday. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Tilray in a report on Wednesday, July 17th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $64.56.

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.

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Earnings History for Tilray (NASDAQ:TLRY)

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