Tilray Inc (NASDAQ:TLRY) – Seaport Global Securities cut their Q2 2019 earnings estimates for Tilray in a research report issued on Tuesday, June 11th. Seaport Global Securities analyst B. Hundley now forecasts that the company will post earnings of ($0.24) per share for the quarter, down from their prior forecast of ($0.22). Seaport Global Securities has a “Neutral” rating and a $81.10 price objective on the stock. Seaport Global Securities also issued estimates for Tilray’s Q3 2019 earnings at ($0.29) EPS, Q4 2019 earnings at ($0.21) EPS, FY2019 earnings at ($1.01) EPS, Q1 2020 earnings at ($0.20) EPS, Q2 2020 earnings at ($0.20) EPS, Q3 2020 earnings at ($0.14) EPS, Q4 2020 earnings at ($0.07) EPS and FY2020 earnings at ($0.60) EPS.
Other research analysts have also issued research reports about the stock. Roth Capital upgraded shares of Tilray from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 20th. Piper Jaffray Companies set a $90.00 price objective on shares of Tilray and gave the company a “buy” rating in a research note on Tuesday, March 19th. Jefferies Financial Group upgraded shares of Tilray from an “underperform” rating to a “hold” rating and dropped their price objective for the company from $61.00 to $57.00 in a research note on Friday, May 3rd. Zacks Investment Research upgraded shares of Tilray from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Stifel Nicolaus initiated coverage on shares of Tilray in a research note on Wednesday, June 5th. They issued a “hold” rating and a $37.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $79.57.
TLRY stock opened at $40.70 on Friday. Tilray has a 52-week low of $20.10 and a 52-week high of $300.00. The company has a quick ratio of 2.06, a current ratio of 2.35 and a debt-to-equity ratio of 1.13.
Tilray (NASDAQ:TLRY) last released its earnings results on Tuesday, May 14th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). Tilray had a negative net margin of 159.09% and a negative return on equity of 43.71%. The business had revenue of $23.00 million for the quarter, compared to analyst estimates of $20.50 million. Tilray’s revenue was up 194.9% compared to the same quarter last year.
Institutional investors have recently added to or reduced their stakes in the stock. Lee Financial Co bought a new position in Tilray in the first quarter valued at approximately $25,000. Toronto Dominion Bank acquired a new stake in shares of Tilray in the fourth quarter valued at approximately $27,000. Quantamental Technologies LLC acquired a new stake in shares of Tilray in the first quarter valued at approximately $26,000. PNC Financial Services Group Inc. raised its holdings in shares of Tilray by 105.8% in the first quarter. PNC Financial Services Group Inc. now owns 463 shares of the company’s stock valued at $30,000 after purchasing an additional 238 shares during the last quarter. Finally, Kore Private Wealth LLC acquired a new position in Tilray during the first quarter worth $41,000. 2.04% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Mark Castaneda sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $51.72, for a total value of $517,200.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Edward Wood Pastorius, Jr. sold 46,557 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.38, for a total transaction of $2,950,782.66. The disclosure for this sale can be found here. Insiders have sold a total of 166,109 shares of company stock valued at $10,409,698 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.
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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