Tilray Inc Forecasted to Post Q2 2023 Earnings of ($0.03) Per Share (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRYGet Rating) – Jefferies Financial Group issued their Q2 2023 earnings per share estimates for shares of Tilray in a report released on Wednesday, November 9th. Jefferies Financial Group analyst O. Bennett anticipates that the company will earn ($0.03) per share for the quarter. The consensus estimate for Tilray’s current full-year earnings is ($0.27) per share. Jefferies Financial Group also issued estimates for Tilray’s Q3 2023 earnings at ($0.02) EPS, Q4 2023 earnings at ($0.02) EPS, FY2023 earnings at ($0.19) EPS, FY2024 earnings at ($0.06) EPS, FY2025 earnings at $0.04 EPS and FY2026 earnings at $0.17 EPS.

Tilray (NASDAQ:TLRYGet Rating) last announced its quarterly earnings data on Friday, October 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Tilray had a negative return on equity of 4.33% and a negative net margin of 78.33%. The firm had revenue of $153.20 million for the quarter, compared to the consensus estimate of $156.85 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year.

TLRY has been the topic of several other reports. Haywood Securities reduced their price objective on Tilray to $3.50 in a research note on Thursday, October 13th. Cantor Fitzgerald raised their price objective on Tilray from $4.15 to $4.50 and gave the stock a “neutral” rating in a research note on Monday, October 10th. Sanford C. Bernstein began coverage on Tilray in a research report on Tuesday, November 1st. They issued a “market perform” rating and a $3.90 target price on the stock. Cowen dropped their target price on Tilray from $23.00 to $9.00 in a research report on Friday, July 29th. Finally, Barclays dropped their target price on Tilray from $4.50 to $2.00 and set an “underweight” rating on the stock in a research report on Friday, September 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.49.

Tilray Stock Performance

Shares of TLRY opened at $4.18 on Friday. The business’s fifty day moving average price is $3.32 and its 200 day moving average price is $3.72. Tilray has a 12-month low of $2.65 and a 12-month high of $13.95. The stock has a market capitalization of $2.56 billion, a PE ratio of -4.45 and a beta of 2.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.33 and a quick ratio of 2.44.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TLRY. Thrivent Financial for Lutherans acquired a new position in Tilray during the second quarter worth about $2,212,000. Prentice Capital Management LP acquired a new position in Tilray during the first quarter worth about $5,293,000. Cubist Systematic Strategies LLC acquired a new position in Tilray during the second quarter worth about $1,186,000. California Public Employees Retirement System grew its holdings in Tilray by 27.2% during the third quarter. California Public Employees Retirement System now owns 1,036,155 shares of the company’s stock worth $2,849,000 after acquiring an additional 221,482 shares during the period. Finally, Signaturefd LLC grew its holdings in Tilray by 19,588.7% during the third quarter. Signaturefd LLC now owns 195,903 shares of the company’s stock worth $539,000 after acquiring an additional 194,908 shares during the period. 12.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Brendan Kennedy sold 350,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $3.22, for a total transaction of $1,127,000.00. Following the transaction, the director now directly owns 6,924,196 shares of the company’s stock, valued at $22,295,911.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,050,000 shares of company stock valued at $3,468,500. Company insiders own 2.54% 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.

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Earnings History and Estimates for Tilray (NASDAQ:TLRY)

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