WEED - Why is Tilray Stock Down on Thursday?
Tilray Stock ( NASDAQ:TLRY )
On Friday, October 7, before the market opens, Tilray stock plans to release its financial results for the first quarter .
Revenue is expected to be $156.85M (-6.6% Y/Y), while earnings per share are predicted to be -$0.07 (+12.5% Y/Y).
In the last two years, Tilray stock has outperformed expectations for earnings per share (EPS) 25% of the time and sales (38% of the time).
There has been one increase and one decrease in EPS forecasts during the last three months. One adjustment up in expected revenue and nine revisions down have occurred.
Tilray ( NASDAQ:TLRY ) gained 7.67% on July 28 after the release of its financial results for the fourth quarter. A +7.8% year-over-year increase in revenue to $153.3M was reported, which was more than expected. Tilray, on the other hand, lost -$457.8M on a $33.6M profit.
Aurora Cannabis stock slumped 8% on September 21 after the release of its FQ4 results (September 20). However, Canaccord Genuity upgraded the stock to Hold from Sell, citing the Tilray stock growth potential but lowering its price estimate from C$2.50 to C$2.
Considerations of Momentum, Profitability, and Valuation, among others, led to SA Quant’s Hold rating for Tilray stock. We give Tilray stock a B for Profitability and a B+ for Growth. Thirteen of twenty Wall Street analysts, or the average rating, think the stock is worth holding.
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