Tilray Inc (NASDAQ:TLRY) – Research analysts at Piper Jaffray Companies raised their Q2 2019 earnings per share estimates for shares of Tilray in a research report issued on Tuesday, May 14th. Piper Jaffray Companies analyst M. Lavery now expects that the company will earn ($0.35) per share for the quarter, up from their previous estimate of ($0.40). Piper Jaffray Companies has a “Overweight” rating and a $72.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Tilray’s Q3 2019 earnings at ($0.34) EPS, Q4 2019 earnings at ($0.42) EPS, FY2019 earnings at ($1.38) EPS, Q1 2020 earnings at ($0.40) EPS, Q2 2020 earnings at ($0.34) EPS, Q3 2020 earnings at ($0.21) EPS, Q4 2020 earnings at ($0.11) EPS and FY2020 earnings at ($1.05) EPS.
Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.02). The company had revenue of $23.00 million during the quarter, compared to analysts’ expectations of $20.50 million. Tilray had a negative net margin of 159.09% and a negative return on equity of 62.52%. The firm’s quarterly revenue was up 194.9% on a year-over-year basis.
TLRY has been the subject of several other reports. Vertical Group assumed coverage on shares of Tilray in a research report on Friday, April 12th. They issued a “sell” rating for the company. Jefferies Financial Group raised shares of Tilray from an “underperform” rating to a “hold” rating and decreased their price objective for the company from $61.00 to $57.00 in a research report on Friday, May 3rd. Roth Capital reaffirmed a “hold” rating on shares of Tilray in a research report on Thursday, March 21st. Zacks Investment Research lowered shares of Tilray from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, Seaport Global Securities assumed coverage on shares of Tilray in a research report on Thursday, February 21st. They issued a “neutral” rating and a $81.10 price objective for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $89.71.
Shares of Tilray stock opened at $45.66 on Friday. The company has a market capitalization of $4.61 billion and a P/E ratio of -55.68. The company has a quick ratio of 20.75, a current ratio of 21.37 and a debt-to-equity ratio of 2.17. Tilray has a 52 week low of $20.10 and a 52 week high of $300.00.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Zevenbergen Capital Investments LLC grew its stake in shares of Tilray by 37.1% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 730,280 shares of the company’s stock worth $47,848,000 after purchasing an additional 197,540 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Tilray during the 4th quarter worth approximately $40,553,000. Morgan Stanley grew its stake in shares of Tilray by 39.6% during the 1st quarter. Morgan Stanley now owns 229,152 shares of the company’s stock worth $15,014,000 after purchasing an additional 65,032 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Tilray during the 1st quarter worth approximately $5,954,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Tilray during the 1st quarter worth approximately $2,106,000. 7.07% of the stock is owned by institutional investors.
In other Tilray news, CFO Mark Castaneda sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $51.72, for a total transaction of $517,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Edward Wood Pastorius, Jr. sold 3,443 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $61.04, for a total transaction of $210,160.72. The disclosure for this sale can be found here. Insiders have sold a total of 196,109 shares of company stock valued at $12,522,598 over the last three months. 3.40% of the stock is currently owned by insiders.
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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