Tilray Brands, Inc. (TLRY) ended the recent trading session at $0.78, demonstrating a -3.76% change from the preceding day's closing price. This change lagged the S&P 500's 0.53% loss on the day. Elsewhere, the Dow saw a downswing of 0.9%, while the tech-heavy Nasdaq depreciated by 0.38%.
The stock of company has fallen by 39.33% in the past month, lagging the Medical sector's gain of 7.75% and the S&P 500's loss of 0.5%.
The investment community will be closely monitoring the performance of Tilray Brands, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.02, reflecting a 80% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $209.65 million, showing a 0.62% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.05 per share and revenue of $867.01 million, which would represent changes of -600% and +5.56%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Tilray Brands, Inc. is currently sporting 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 161, which puts it in the bottom 35% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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