Tilray Inc to Post FY2024 Earnings of ($0.34) Per Share, Roth Capital Forecasts (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY) – Roth Capital cut their FY2024 earnings estimates for shares of Tilray in a research report issued on Wednesday, April 10th. Roth Capital analyst W. Kirk now expects that the company will post earnings per share of ($0.34) for the year, down from their previous forecast of ($0.29). The consensus estimate for Tilray’s current full-year earnings is ($0.28) per share. Roth Capital also issued estimates for Tilray’s Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.30) EPS.

A number of other analysts have also weighed in on TLRY. Alliance Global Partners raised their price objective on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research note on Friday, April 5th. Canaccord Genuity Group reduced their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, CIBC reduced their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th.

Tilray Stock Up 2.8 %

Shares of Tilray stock opened at $1.83 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18. The company has a 50-day moving average of $1.97 and a 200 day moving average of $1.97. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -4.16 and a beta of 2.36. Tilray has a 1 year low of $1.50 and a 1 year high of $3.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TLRY. SG Americas Securities LLC lifted its holdings in shares of Tilray by 56.7% during the 4th quarter. SG Americas Securities LLC now owns 415,413 shares of the company’s stock valued at $955,000 after buying an additional 150,247 shares during the period. Gotham Asset Management LLC boosted its position in Tilray by 1,038.7% in the third quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company’s stock worth $2,793,000 after purchasing an additional 1,066,137 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tilray during the 3rd quarter valued at about $2,023,000. Public Sector Pension Investment Board increased its position in shares of Tilray by 11.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock valued at $3,630,000 after purchasing an additional 155,672 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Tilray during the 4th quarter valued at about $38,000. 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.