Tilray Inc (NASDAQ:TLRY) Expected to Post Quarterly Sales of $165.83 Million

Brokerages expect Tilray Inc (NASDAQ:TLRY) to post sales of $165.83 million for the current quarter, according to Zacks. Six analysts have issued estimates for Tilray’s earnings, with the highest sales estimate coming in at $177.10 million and the lowest estimate coming in at $160.00 million. The firm is scheduled to announce its next quarterly earnings report on Monday, May 9th.

On average, analysts expect that Tilray will report full-year sales of $676.05 million for the current year, with estimates ranging from $648.85 million to $742.98 million. For the next year, analysts expect that the firm will report sales of $799.10 million, with estimates ranging from $705.20 million to $940.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Tilray.

Tilray (NASDAQ:TLRY) last posted its earnings results on Monday, January 10th. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. Tilray had a negative net margin of 66.64% and a negative return on equity of 2.57%. The firm had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $171.57 million. The firm’s quarterly revenue was up 19.8% on a year-over-year basis.

Several research firms have recently commented on TLRY. Barclays initiated coverage on shares of Tilray in a research report on Thursday, November 18th. They issued an “underweight” rating and a $10.00 target price for the company. Zacks Investment Research upgraded shares of Tilray from a “sell” rating to a “hold” rating in a research note on Wednesday, December 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Tilray in a research note on Wednesday, October 20th. decreased their price target on shares of Tilray from $17.00 to $12.00 and set a “hold” rating for the company in a research note on Friday, October 8th. Finally, CIBC decreased their price target on shares of Tilray from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, October 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.62.

NASDAQ:TLRY opened at $6.86 on Friday. The company has a 50-day moving average price of $9.07 and a 200-day moving average price of $11.64. Tilray has a 12 month low of $6.29 and a 12 month high of $67.00. The company has a current ratio of 2.25, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -3.59 and a beta of 2.39.

Hedge funds and other institutional investors have recently made changes to their positions in the company. United Maritime Capital LLC purchased a new stake in shares of Tilray during the 2nd quarter valued at about $1,399,000. Traynor Capital Management Inc. boosted its holdings in shares of Tilray by 33.0% during the 3rd quarter. Traynor Capital Management Inc. now owns 24,356 shares of the company’s stock valued at $274,000 after acquiring an additional 6,050 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Tilray during the 2nd quarter valued at about $1,467,000. Commonwealth Equity Services LLC boosted its holdings in shares of Tilray by 297.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 303,527 shares of the company’s stock valued at $5,487,000 after acquiring an additional 227,193 shares during the last quarter. Finally, BDO Wealth Advisors LLC boosted its holdings in shares of Tilray by 802.1% during the 2nd quarter. BDO Wealth Advisors LLC now owns 3,383 shares of the company’s stock valued at $61,000 after acquiring an additional 3,008 shares during the last quarter. 12.09% of the stock is currently owned by hedge funds and other institutional investors.

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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