In the latest trading session, Tilray Brands, Inc. (TLRY) closed at $1.26, marking a +1.61% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.29%. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the company had lost 14.48% over the past month, lagging the Medical sector's loss of 0.33% and the S&P 500's gain of 3.08%.
Market participants will be closely following the financial results of Tilray Brands, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.03, marking a 25% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $206.83 million, up 3.39% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$0.11 per share and a revenue of $877.28 million, demonstrating changes of -1200% and +6.81%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Tilray Brands, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.59% lower within the past month. Tilray Brands, Inc. currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 106, positioning it in the top 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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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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