Tilray Inc Forecasted to Post Q1 2023 Earnings of ($0.04) Per Share (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRYGet Rating) – Research analysts at Jefferies Financial Group issued their Q1 2023 earnings per share estimates for shares of Tilray in a note issued to investors on Monday, August 1st. Jefferies Financial Group analyst O. Bennett forecasts that the company will post earnings per share of ($0.04) for the quarter. The consensus estimate for Tilray’s current full-year earnings is ($0.17) per share. Jefferies Financial Group also issued estimates for Tilray’s Q2 2023 earnings at ($0.04) EPS, Q4 2023 earnings at ($0.03) EPS and FY2026 earnings at $0.28 EPS.

Tilray (NASDAQ:TLRYGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.82). The business had revenue of $153.30 million for the quarter, compared to the consensus estimate of $151.53 million. Tilray had a negative net margin of 71.52% and a negative return on equity of 4.14%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS.

A number of other analysts also recently issued reports on the company. Cantor Fitzgerald dropped their price target on Tilray from $5.75 to $4.15 and set a “neutral” rating for the company in a research report on Tuesday. Barclays dropped their target price on Tilray from $8.50 to $4.50 and set an “underweight” rating for the company in a research report on Wednesday, April 20th. Cowen dropped their target price on Tilray from $23.00 to $9.00 in a research report on Friday, July 29th. Alliance Global Partners dropped their target price on Tilray from $8.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, May 2nd. Finally, Roth Capital dropped their target price on Tilray from $8.00 to $4.00 and set a “neutral” rating for the company in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.15.

Tilray Stock Performance

Shares of TLRY opened at $4.03 on Wednesday. The company has a market cap of $2.01 billion, a PE ratio of -4.53 and a beta of 2.57. The company has a current ratio of 2.87, a quick ratio of 1.99 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $3.58 and a 200-day moving average price of $5.04. Tilray has a 12-month low of $3.00 and a 12-month high of $15.21.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Confluence Wealth Services Inc. purchased a new stake in Tilray in the fourth quarter worth $30,000. Dupont Capital Management Corp bought a new stake in Tilray in the fourth quarter worth $34,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Tilray by 320.0% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 5,250 shares of the company’s stock worth $41,000 after acquiring an additional 4,000 shares in the last quarter. Prospera Financial Services Inc bought a new stake in Tilray in the first quarter worth $54,000. Finally, Toronto Dominion Bank boosted its holdings in Tilray by 57.1% in the first quarter. Toronto Dominion Bank now owns 7,692 shares of the company’s stock worth $60,000 after acquiring an additional 2,795 shares in the last quarter. 13.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Brendan Kennedy sold 350,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $3.09, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 7,624,196 shares of the company’s stock, valued at $23,558,765.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.17% of the company’s stock.

About Tilray

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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.

Further Reading

Earnings History and Estimates for Tilray (NASDAQ:TLRY)

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