In the latest close session, Tilray Brands, Inc. (TLRY) was down 5.52% at $1.37. This change lagged the S&P 500's 0.24% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 0.21%.
Coming into today, shares of the company had gained 151.34% in the past month. In that same time, the Medical sector gained 0.61%, while the S&P 500 gained 1.28%.
Analysts and investors alike will be keeping a close eye on the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. On that day, Tilray Brands, Inc. is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 25%. Our most recent consensus estimate is calling for quarterly revenue of $206.83 million, up 3.39% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.11 per share and revenue of $877.28 million, indicating changes of -1200% and +6.81%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Tilray Brands, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 30% higher. At present, Tilray Brands, Inc. boasts a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Tilray Brands, Inc. (TLRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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