In the latest close session, Tilray Brands, Inc. (TLRY) was down 2.46% at $1.19. The stock fell short of the S&P 500, which registered a loss of 0.1% for the day. On the other hand, the Dow registered a gain of 0.57%, and the technology-centric Nasdaq decreased by 0.33%.
Shares of the company have appreciated by 15.09% over the course of the past month, outperforming the Medical sector's gain of 0.86%, and the S&P 500's gain of 2.57%.
The investment community will be closely monitoring the performance of Tilray Brands, Inc. in its forthcoming earnings report. In that report, analysts expect Tilray Brands, Inc. to post earnings of -$0.03 per share. This would mark year-over-year growth of 25%. Meanwhile, the latest consensus estimate predicts the revenue to be $206.83 million, indicating a 3.39% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.11 per share and a revenue of $877.28 million, representing changes of -1200% and +6.81%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Tilray Brands, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 past month, there's been no change in the Zacks Consensus EPS estimate. Tilray Brands, Inc. is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much 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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