In the latest close session, Tilray Brands, Inc. (TLRY) was down 6.55% at $0.50. The stock fell short of the S&P 500, which registered a loss of 0.79% for the day. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, lost 0.92%.
Shares of the company have appreciated by 32.82% over the course of the past month, outperforming the Medical sector's gain of 1.49%, and the S&P 500's gain of 5.22%.
The investment community will be closely monitoring the performance of Tilray Brands, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.03, showcasing a 25% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $254.8 million, up 10.84% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.01 per share and a revenue of $850.75 million, representing changes of -206.06% and 0%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Tilray Brands, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Tilray Brands, Inc. boasts a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 146, placing it within the bottom 41% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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