Tilray Inc Forecasted to Earn Q3 2023 Earnings of ($0.03) Per Share (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRYGet Rating) – Investment analysts at Jefferies Financial Group issued their Q3 2023 EPS estimates for Tilray in a research note issued to investors on Monday, August 1st. Jefferies Financial Group analyst O. Bennett expects that the company will post earnings per share of ($0.03) for the quarter. The consensus estimate for Tilray’s current full-year earnings is ($0.18) per share. Jefferies Financial Group also issued estimates for Tilray’s FY2023 earnings at ($0.15) EPS, FY2024 earnings at ($0.07) EPS and FY2025 earnings at $0.07 EPS.

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

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group reduced their target price on shares of Tilray from $9.00 to $7.00 in a report on Wednesday, June 15th. Roth Capital cut their price objective on shares of Tilray from $8.00 to $4.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. Piper Sandler cut their price objective on shares of Tilray from $6.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, June 15th. Cantor Fitzgerald cut their price objective on shares of Tilray from $5.75 to $4.15 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Alliance Global Partners cut their price objective on shares of Tilray from $8.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday, May 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.15.

Tilray Stock Down 3.2 %

Shares of NASDAQ:TLRY opened at $3.90 on Thursday. The firm’s 50 day moving average price is $3.57 and its 200 day moving average price is $5.02. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -4.38 and a beta of 2.57. Tilray has a fifty-two week low of $3.00 and a fifty-two week high of $15.21. The company has a quick ratio of 1.99, a current ratio of 2.87 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CapWealth Advisors LLC grew its position in Tilray by 13.0% in the 2nd quarter. CapWealth Advisors LLC now owns 69,450 shares of the company’s stock valued at $217,000 after buying an additional 8,000 shares during the last quarter. Scotia Capital Inc. grew its position in Tilray by 9.4% in the 2nd quarter. Scotia Capital Inc. now owns 55,341 shares of the company’s stock valued at $172,000 after buying an additional 4,734 shares during the last quarter. GDS Wealth Management purchased a new position in Tilray in the 2nd quarter valued at $44,000. State of New Jersey Common Pension Fund D grew its position in Tilray by 16.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 481,295 shares of the company’s stock valued at $1,502,000 after buying an additional 66,322 shares during the last quarter. Finally, Van Hulzen Asset Management LLC boosted its position in shares of Tilray by 23.5% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 60,023 shares of the company’s stock worth $187,000 after purchasing an additional 11,440 shares in the last quarter. 13.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tilray

In related news, Director Brendan Kennedy sold 350,000 shares of Tilray stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $3.09, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 7,624,196 shares in the company, valued at approximately $23,558,765.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.17% of the company’s stock.

About Tilray

(Get Rating)

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.

See Also

Earnings History and Estimates for Tilray (NASDAQ:TLRY)

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