$51.74 Million in Sales Expected for Tilray Inc (NASDAQ:TLRY) This Quarter

Equities research analysts predict that Tilray Inc (NASDAQ:TLRY) will report sales of $51.74 million for the current quarter, Zacks reports. Six analysts have made estimates for Tilray’s earnings, with the lowest sales estimate coming in at $46.30 million and the highest estimate coming in at $56.10 million. Tilray posted sales of $10.05 million during the same quarter last year, which suggests a positive year-over-year growth rate of 414.8%. The company is expected to announce its next quarterly earnings results on Tuesday, November 12th.

According to Zacks, analysts expect that Tilray will report full year sales of $178.18 million for the current year, with estimates ranging from $162.10 million to $199.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $371.23 million, with estimates ranging from $261.80 million to $601.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Tilray.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Tilray had a negative net margin of 121.73% and a negative return on equity of 37.64%. The company had revenue of $45.90 million during the quarter, compared to analyst estimates of $40.25 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 373.2% on a year-over-year basis.

Several brokerages recently issued reports on TLRY. Benchmark lowered their price target on Tilray from $200.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Jefferies Financial Group set a $25.00 price target on Tilray and gave the company a “hold” rating in a report on Friday, October 11th. Stifel Nicolaus reiterated a “hold” rating on shares of Tilray in a report on Wednesday, August 14th. Cowen set a $60.00 price objective on shares of Tilray and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Consumer Edge began coverage on shares of Tilray in a research report on Friday, June 28th. They issued an “overweight” rating and a $54.00 price objective for the company. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $52.47.

Large investors have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC boosted its position in Tilray by 100.8% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 996 shares of the company’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Tilray in the second quarter valued at approximately $46,000. Certified Advisory Corp increased its stake in Tilray by 152.1% in the second 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. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Tilray in the second quarter valued at approximately $70,000. Finally, Advisory Services Network LLC increased its stake in Tilray by 4,164.9% in the second quarter. Advisory Services Network LLC now owns 1,578 shares of the company’s stock valued at $73,000 after purchasing an additional 1,541 shares in the last quarter. 7.63% of the stock is owned by institutional investors.

NASDAQ TLRY traded down $1.12 during trading hours on Tuesday, hitting $21.37. The company had a trading volume of 888,921 shares, compared to its average volume of 1,382,782. Tilray has a fifty-two week low of $20.20 and a fifty-two week high of $159.28. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -26.06 and a beta of 4.44. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.04 and a quick ratio of 1.61. The firm’s 50 day moving average is $26.73 and its 200 day moving average is $40.37.

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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