Tilray’s disappointing earnings
Tilray (TLRY) just reported its earnings earlier this week. Since then, the stock hasn’t moved much. The company reported total quarterly sales of $15.5 million, which increased nearly 203.8% year-over-year. The company’s revenue gains didn’t turn into profits. Tilray reported an EBITDA loss of $17.8 million—compared to an EBITDA loss of ~$2.1 million in the fourth quarter of 2017. We’ll see how analysts’ ratings have changed since the company’s earnings.
As you can see in the above chart, the number of analysts covering Tilray increased to ten from seven in February. Among the ten analysts, none of them recommended a “strong buy” for the next 12-month period. However, three analysts recommended a “buy,” which remained unchanged month-over-month.
The number of analysts recommending a “hold” also remained unchanged month-over-month at four analysts. In March, two analysts (MJ) recommended a “sell” on the stock, while one analyst recommended a “strong sell.” The overall recommendation for Tilray was a “hold.” Analysts have been more bearish on the stock in March. Cronos Group (CRON) has a “hold” on the stock, while Canopy Growth (WEED) and Aurora Cannabis (ACB) both have a “buy” as of the time of this writing.
The consensus target price as of the time of this writing was $108.6, which was lower than $131 in February. Tilray closed at $70 on March 20, which would leave an upside of nearly 53% if the current price converged with analysts’ target.
Next, we’ll discuss Innovative Industrial Properties (IIPR).