Tilray Inc (NASDAQ:TLRY) Expected to Post Quarterly Sales of $55.56 Million

Analysts expect Tilray Inc (NASDAQ:TLRY) to announce $55.56 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Tilray’s earnings. The lowest sales estimate is $53.00 million and the highest is $57.61 million. Tilray posted sales of $15.53 million in the same quarter last year, which suggests a positive year over year growth rate of 257.8%. The firm is scheduled to announce its next quarterly earnings results on Monday, March 16th.

According to Zacks, analysts expect that Tilray will report full year sales of $173.69 million for the current year, with estimates ranging from $162.10 million to $177.65 million. For the next year, analysts expect that the firm will report sales of $307.01 million, with estimates ranging from $271.90 million to $339.91 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Tilray.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.05). The company had revenue of $51.10 million during the quarter, compared to the consensus estimate of $49.57 million. Tilray had a negative net margin of 97.39% and a negative return on equity of 40.30%. The business’s quarterly revenue was up 411.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS.

A number of equities analysts have issued reports on the stock. Northland Securities restated a “hold” rating on shares of Tilray in a research report on Wednesday, August 14th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Tilray in a report on Wednesday, August 14th. Jefferies Financial Group set a $25.00 target price on Tilray and gave the company a “hold” rating in a research report on Friday, October 25th. Cowen set a $60.00 target price on Tilray and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Piper Jaffray Companies reduced their target price on Tilray from $72.00 to $31.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.13.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC grew its holdings in Tilray by 100.8% during the third quarter. Wealthcare Advisory Partners LLC now owns 996 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the period. Point72 Asset Management L.P. bought a new position in Tilray during the 2nd quarter worth $46,000. Certified Advisory Corp boosted its holdings in shares of Tilray by 152.1% in the 2nd quarter. Certified Advisory Corp now owns 1,041 shares of the company’s stock valued at $48,000 after purchasing an additional 628 shares in the last quarter. AdvisorNet Financial Inc acquired a new stake in Tilray in the third quarter valued at approximately $58,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Tilray in the second quarter valued at approximately $70,000. 8.70% of the stock is owned by hedge funds and other institutional investors.

TLRY traded up $0.23 during midday trading on Friday, hitting $19.25. The company had a trading volume of 829,683 shares, compared to its average volume of 1,884,188. The company has a quick ratio of 1.69, a current ratio of 2.54 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average price is $21.63 and its 200 day moving average price is $33.49. Tilray has a 52 week low of $18.73 and a 52 week high of $109.35. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -23.47 and a beta of 4.07.

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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Earnings History and Estimates for Tilray (NASDAQ:TLRY)

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