Tilray Inc (NASDAQ:TLRY) - Research analysts at Piper Sandler issued their FY2021 earnings estimates for Tilray in a research report issued on Monday, July 19th. Piper Sandler analyst M. Lavery forecasts that the company will post earnings of ($0.81) per share for the year. Piper Sandler also issued estimates for Tilray's Q1 2022 earnings at ($0.06) EPS.
Several other equities research analysts have also issued reports on TLRY. Zacks Investment Research lowered shares of Tilray from a "hold" rating to a "sell" rating in a research report on Thursday, July 15th. Cantor Fitzgerald raised shares of Tilray from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $30.25 to $22.00 in a report on Wednesday, June 2nd. Bank of America started coverage on shares of Tilray in a report on Wednesday, April 28th. They set a "buy" rating for the company. Jefferies Financial Group raised shares of Tilray from an "underperform" rating to a "buy" rating and raised their price target for the company from $4.77 to $23.00 in a report on Friday, May 7th. Finally, Cowen started coverage on shares of Tilray in a report on Tuesday, May 11th. They set an "outperform" rating for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. The stock currently has an average rating of "Hold" and a consensus target price of $20.43.
Tilray stock opened at $14.60 on Thursday. Tilray has a 52-week low of $4.41 and a 52-week high of $67.00. The stock has a fifty day simple moving average of $16.92. The company has a quick ratio of 1.67, a current ratio of 2.01 and a debt-to-equity ratio of 0.48. Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Monday, May 10th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.10) by ($0.09). The company had revenue of $48.02 million for the quarter, compared to analysts' expectations of $61.86 million. Tilray had a negative return on equity of 136.31% and a negative net margin of 336.84%.
In other news, CFO Carl A. Merton sold 89,000 shares of Tilray stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $14.82, for a total value of $1,318,980.00. Following the transaction, the chief financial officer now directly owns 169,105 shares of the company's stock, valued at $2,506,136.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brendan Kennedy sold 400,000 shares of the firm's stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $17.97, for a total transaction of $7,188,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 789,000 shares of company stock worth $12,907,980. 3.17% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TLRY. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Tilray in the fourth quarter valued at approximately $25,000. Optimum Investment Advisors bought a new position in shares of Tilray in the first quarter valued at approximately $27,000. Trustcore Financial Services LLC bought a new position in shares of Tilray in the first quarter valued at approximately $28,000. North Star Investment Management Corp. raised its position in shares of Tilray by 740.7% in the second quarter. North Star Investment Management Corp. now owns 1,589 shares of the company's stock valued at $29,000 after purchasing an additional 1,400 shares during the period. Finally, CWM LLC raised its position in shares of Tilray by 165.1% in the first quarter. CWM LLC now owns 1,328 shares of the company's stock valued at $30,000 after purchasing an additional 827 shares during the period. Hedge funds and other institutional investors own 7.04% 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.
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