Zacks: Analysts Expect Tilray Inc (TLRY) Will Announce Quarterly Sales of $10.00 Million

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Wall Street brokerages expect Tilray Inc (NASDAQ:TLRY) to report $10.00 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Tilray’s earnings. The highest sales estimate is $11.16 million and the lowest is $8.83 million. The business is scheduled to announce its next earnings report after the market closes on Tuesday, November 13th.

On average, analysts expect that Tilray will report full-year sales of $40.83 million for the current year, with estimates ranging from $40.71 million to $40.96 million. For the next fiscal year, analysts anticipate that the firm will post sales of $157.68 million, with estimates ranging from $156.75 million to $158.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Tilray.

Tilray (NASDAQ:TLRY) last issued its earnings results on Tuesday, August 28th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.08). The company had revenue of $9.70 million for the quarter, compared to the consensus estimate of $9.01 million. The business’s revenue was up 94.0% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. Benchmark assumed coverage on shares of Tilray in a report on Tuesday, October 16th. They issued a “buy” rating and a $200.00 target price on the stock. Roth Capital restated a “neutral” rating on shares of Tilray in a report on Tuesday, October 2nd. Zacks Investment Research cut shares of Tilray from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Cowen raised their target price on shares of Tilray from $62.00 to $172.00 and gave the stock an “outperform” rating in a report on Tuesday, October 9th. Finally, Northland Securities cut shares of Tilray from an “outperform” rating to a “market perform” rating in a report on Thursday, September 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Tilray has a consensus rating of “Hold” and a consensus price target of $135.67.

TLRY stock traded down $9.71 on Monday, hitting $108.99. The company had a trading volume of 2,996,295 shares, compared to its average volume of 3,566,697. Tilray has a 12-month low of $20.10 and a 12-month high of $300.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.51 and a current ratio of 0.62.

Several institutional investors have recently modified their holdings of TLRY. Bouchey Financial Group Ltd purchased a new position in shares of Tilray during the 3rd quarter worth $316,000. Bank of Montreal Can purchased a new position in shares of Tilray during the 3rd quarter worth $2,467,000. IFP Advisors Inc purchased a new position in shares of Tilray during the 3rd quarter worth $154,000. Creative Planning purchased a new position in shares of Tilray during the 3rd quarter worth $1,329,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Tilray during the 3rd quarter worth $242,000. Institutional investors and hedge funds own 0.04% 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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