Will Tilray Break Its Sideways Trend After Reporting Q4 Numbers

What's Happening With TLRY View more about TLRY >

Marijuana grower Tilray (TLRY) will report its fourth-quarter results March 18. Analysts forecast the company will lose 12 cents per share on sales of $17.69 million. The company’s first quarterly report after going public was last August, when it reported a second-quarter loss of 17 cents per share and sales of $9.0 million. TLRY shares are up a modest 2.5% in 2019.

Technical Analysis

TLRY was recently trading at $72.33 down $227.67 from its 12-month high and $52.23 above its 12-month low. InvestorsObserver’s Stock Score Report gives TLRY a N/A long-term technical score and a 50 short-term technical score. The stock has recent support above $64.5 and recent resistance below $80. Of the 7 analysts who cover the stock 4 rate it Strong Buy, 0 rate it Buy, 2 rate it Hold, 1 rate it Sell, and 0 rate it Strong Sell, TLRY gets a score of 49 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

Investors have been very bullish on the marijuana sector but has found itself stuck in a tight sideways trend over the last four months. After going public last July, the stock shot sharply higher before finding a natural trading range it has maintained since early December. The company has yet to turn a profit, but that is the same situation as the rest of the industry at this point in time. Revenue has been improving, and this quarter’s loss is expected to be smaller than either of the first two quarters Tilray has released. The outlook for marijuana growers is still very unknown, but with Canada fully legalizing recreational marijuana on the national level, and an ever-increasing number of U.S. states passaging legislation on medical and recreational marijuana use, the growth potential is phenomenal. Marijuana has the potential to disrupt several of the biggest sectors and analysts see huge upside potential in marijuana stocks. Analysts have an average price target of $125.25 on TLRY which suggests the stock has as much as 73% upside. Marijuana stocks can be volatile, so investors could see a big move following the quarterly report and may want to have an exit strategy in place in the event the report shows any signs of weakness.

TLRY
About Tilray Inc.

  • Last Price:
    $43.26
  • Previous Close:
    $41.05
  • Change:
    $2.21 (5.39%)
  • Open:
    $41.20
  • Volume:
    1,346,842
  • Average Volume (100 Day):
    1,799,231
  • Market Capitalization:
    $3.5 B
  • Day's Range:
    $41.20 - $43.93
  • Dividend Yield:
    0.00%
  • 52-week Range:
    $300 - $20.10
  • P-E:
    0.00
  • EPS:
    $-0.95
  • Earnings Date:
    8/27/19
  • Ex Dividend Date:
    N/A
  • Sector:
    Healthcare
  • Industry:
    Drug Manufacturers - Specialty & Generic
  • Analyst Average Recommendation:
    Hold

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