Tilray Brands, Inc. (TLRY) closed the most recent trading day at $0.98, moving +1.89% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.91% for the day. Elsewhere, the Dow saw an upswing of 1.43%, while the tech-heavy Nasdaq appreciated by 0.67%.
Shares of the company have depreciated by 34.35% over the course of the past month, underperforming the Medical sector's gain of 5.32%, and the S&P 500's loss of 1.24%.
Market participants will be closely following the financial results of Tilray Brands, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.02, indicating a 80% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $209.65 million, down 0.62% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.05 per share and a revenue of $867.01 million, demonstrating changes of -600% and +5.56%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Tilray Brands, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Tilray Brands, Inc. presently features a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 159, which puts 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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