Tilray Inc (NASDAQ:TLRY) Expected to Post FY2024 Earnings of ($0.29) Per Share

Tilray Inc (NASDAQ:TLRY) – Equities research analysts at Alliance Global Partners dropped their FY2024 earnings per share estimates for shares of Tilray in a research note issued on Wednesday, April 10th. Alliance Global Partners analyst A. Grey now forecasts that the company will post earnings of ($0.29) per share for the year, down from their previous forecast of ($0.20). Alliance Global Partners has a “Neutral” rating and a $2.75 price objective on the stock. The consensus estimate for Tilray’s current full-year earnings is ($0.27) per share. Alliance Global Partners also issued estimates for Tilray’s FY2025 earnings at ($0.07) EPS.

A number of other research analysts have also issued reports on the company. Canaccord Genuity Group reduced their price objective on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research report on Wednesday. CIBC reduced their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday.

Tilray Price Performance

Shares of TLRY opened at $1.82 on Friday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -4.14 and a beta of 2.36. The stock has a 50 day moving average of $1.97 and a 200-day moving average of $1.97. The company has a current ratio of 1.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11. Tilray has a 52 week low of $1.50 and a 52 week high of $3.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Macquarie Group Ltd. grew its stake in Tilray by 188.8% in the second quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock valued at $27,000 after purchasing an additional 5,583 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in shares of Tilray during the 1st quarter worth about $82,000. Clear Street Markets LLC bought a new stake in shares of Tilray during the 3rd quarter worth about $25,000. Kingsview Wealth Management LLC bought a new stake in shares of Tilray during the 2nd quarter worth about $33,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Tilray during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.