Tilray (TLRY) Posts Earnings Results, Misses Estimates By $0.18 EPS

Tilray (NASDAQ:TLRY) announced its earnings results on Monday. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.18), Briefing.com reports. The firm had revenue of $15.50 million for the quarter, compared to the consensus estimate of $12.85 million. Tilray had a negative return on equity of 60.74% and a negative net margin of 121.22%. The company’s quarterly revenue was up 203.9% compared to the same quarter last year.

Tilray stock opened at $72.24 on Tuesday. Tilray has a one year low of $20.10 and a one year high of $300.00. The company has a quick ratio of 4.98, a current ratio of 5.43 and a debt-to-equity ratio of 0.05.

TLRY has been the topic of a number of recent research reports. Zacks Investment Research lowered Tilray from a “hold” rating to a “sell” rating in a research note on Saturday, December 8th. Piper Jaffray Companies initiated coverage on Tilray in a research note on Wednesday, January 9th. They set an “overweight” rating and a $90.00 target price on the stock. Jefferies Financial Group initiated coverage on Tilray in a research note on Friday, March 8th. They set an “underperform” rating and a $61.00 target price on the stock. Seaport Global Securities initiated coverage on Tilray in a research note on Thursday, February 21st. They set a “neutral” rating and a $81.10 target price on the stock. Finally, Roth Capital upgraded Tilray from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Tilray presently has a consensus rating of “Hold” and a consensus target price of $106.52.

In other Tilray news, insider Brendan Kennedy sold 149,916 shares of the firm’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $74.21, for a total transaction of $11,125,266.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Edward Wood Pastorius, Jr. sold 20,578 shares of the firm’s stock in a transaction on Thursday, January 24th. The stock was 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. In the last 90 days, insiders have sold 229,916 shares of company stock worth $16,900,414.

A number of institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank bought a new position in Tilray during the 4th quarter worth $27,000. IFP Advisors Inc increased its stake 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 during the period. Bank of America Corp DE increased its stake in Tilray by 48.9% during the 4th quarter. Bank of America Corp DE now owns 2,019 shares of the company’s stock worth $143,000 after acquiring an additional 663 shares during the period. Captrust Financial Advisors bought a new position in Tilray during the 3rd quarter worth $103,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Tilray during the 4th quarter worth $71,000. Hedge funds and other institutional investors own 7.91% of the company’s stock.

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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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