Tilray Brands, Inc. (TLRY) closed at $10.93 in the latest trading session, marking a -10.04% move from the prior day. This change lagged the S&P 500's 0.16% loss on the day. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Shares of the company have appreciated by 12.5% over the course of the past month, outperforming the Medical sector's gain of 1.12%, and the S&P 500's loss of 0.21%.
Investors will be eagerly watching for the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. In that report, analysts expect Tilray Brands, Inc. to post earnings of -$0.14 per share. This would mark year-over-year growth of 86%. Meanwhile, the latest consensus estimate predicts the revenue to be $209.65 million, indicating a 0.62% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.44 per share and revenue of $866.74 million, indicating changes of -540% and +5.53%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Tilray Brands, Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.78% increase. Currently, Tilray Brands, Inc. is carrying a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tilray Brands, Inc. (TLRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
