Tilray Brands, Inc. (TLRY) ended the recent trading session at $1.03, demonstrating a -5.09% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.92% for the day. At the same time, the Dow lost 1.18%, and the tech-heavy Nasdaq lost 0.84%.
Shares of the company have depreciated by 30.77% over the course of the past month, underperforming the Medical sector's gain of 5.26%, and the S&P 500's gain of 1.48%.
Analysts and investors alike will be keeping a close eye on the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.02, marking a 80% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $209.65 million, down 0.62% from the year-ago period.
TLRY's full-year Zacks Consensus Estimates are calling for earnings of -$0.05 per share and revenue of $877.43 million. These results would represent year-over-year changes of -600% and +6.83%, respectively.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Tilray Brands, Inc. boasts a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 36% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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