Research Analysts Set Expectations for Tilray Inc's FY2024 Earnings (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY - Free Report) - Stock analysts at Alliance Global Partners reduced their FY2024 earnings per share (EPS) estimates for shares of Tilray in a report issued on Wednesday, April 10th. Alliance Global Partners analyst A. Grey now forecasts that the company will post earnings per share of ($0.29) for the year, down from their prior forecast of ($0.20). Alliance Global Partners has a "Neutral" rating and a $2.75 price target on the stock. The consensus estimate for Tilray's current full-year earnings is ($0.23) per share. Alliance Global Partners also issued estimates for Tilray's FY2025 earnings at ($0.07) EPS.

A number of other analysts have also commented on TLRY. Canaccord Genuity Group reduced their target price on Tilray from $4.25 to $4.00 and set a "buy" rating for the company in a report on Wednesday. CIBC reduced their target price on Tilray from $2.25 to $2.00 and set a "neutral" rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $2.71.

Tilray Stock Down 4.2 %

Shares of Tilray stock traded down $0.08 on Friday, reaching $1.82. The company's stock had a trading volume of 36,377,707 shares, compared to its average volume of 29,319,178. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -4.14 and a beta of 2.36. The firm's fifty day simple moving average is $1.97 and its two-hundred day simple moving average is $1.98. Tilray has a 52 week low of $1.50 and a 52 week high of $3.40. The company has a quick ratio of 0.99, a current ratio of 1.92 and a debt-to-equity ratio of 0.11.

Institutional Trading of Tilray

Several large investors have recently modified their holdings of TLRY. JPMorgan Chase & Co. grew its holdings in shares of Tilray by 63.2% in the first quarter. JPMorgan Chase & Co. now owns 266,929 shares of the company's stock worth $2,073,000 after acquiring an additional 103,379 shares during the period. Raymond James & Associates grew its holdings in shares of Tilray by 7.4% in the first quarter. Raymond James & Associates now owns 103,410 shares of the company's stock worth $803,000 after acquiring an additional 7,135 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Tilray by 77.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 148,682 shares of the company's stock worth $1,155,000 after acquiring an additional 65,079 shares during the period. Cetera Advisor Networks LLC purchased a new position in Tilray during the first quarter valued at $82,000. Finally, Private Advisor Group LLC lifted its position in Tilray by 25.6% during the first quarter. Private Advisor Group LLC now owns 51,937 shares of the company's stock valued at $404,000 after purchasing an additional 10,587 shares in the last quarter. 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.