Tilray Brands, Inc. (TLRY) closed at $7.06 in the latest trading session, marking a -3.29% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.57%. Elsewhere, the Dow lost 1.61%, while the tech-heavy Nasdaq lost 0.26%.
Shares of the company have depreciated by 3.95% over the course of the past month, underperforming the Medical sector's gain of 0.06%, and the S&P 500's loss of 0.15%.
Market participants will be closely following the financial results of Tilray Brands, Inc. in its upcoming release. On that day, Tilray Brands, Inc. is projected to report earnings of -$0.14 per share, which would represent year-over-year growth of 86%. Alongside, our most recent consensus estimate is anticipating revenue of $205.93 million, indicating a 10.85% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.56 per share and revenue of $871.99 million. These totals would mark changes of -660% and +6.17%, respectively, from last year.
Any recent changes to analyst estimates for Tilray Brands, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Tilray Brands, Inc. is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 136, this industry ranks in the bottom 45% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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