Performance Outlook | Industrial Cannabis Stock Tilray, Stock Price Expected to Double in the Short Term
The stock has seen a significant increase recently, almost doubling in price in just over half a month. Other industry peers such as Aurora Cannabis (ACB) and Sundial Growers (SNDL) have also experienced impressive gains
Tilray (TLRY) plans to announce its third-quarter earnings results before the market opens on Tuesday, April 9.
The consensus estimate for earnings per share is -0.05 USD (a decrease of 25.0% year-on-year), with a revenue consensus estimate of 1.9833 billion USD (an increase of 36.2% year-on-year).
Over the past two years, TLRY has exceeded earnings per share expectations 50% of the time and revenue expectations 13% of the time.
In the past 3 months, there has been 1 upward revision and 1 downward revision in earnings per share expectations. Revenue forecasts have seen 1 upward revision and 9 downward revisions.
"Analysts have lowered their forecasts for Tilray's future revenue and adjusted EBITDA, and the stock's performance remains challenging," wrote investment group leader and CFA Alan Brochstein in his analysis "Tilray May Collapse".
Both Wall Street analysts and Seeking Alpha's quantitative rating system rate the stock as a buy, while Seeking Alpha analysts recommend selling.
The stock has seen a significant increase in recent weeks, nearly doubling in price over the past two weeks:
Peers in the industry such as Aurora Cannabis (ACB) and Sundial Growers (SNDL) have also seen impressive gains.
Historically, industrial cannabis stocks have experienced maximum declines of over 95%