In the latest trading session, Tilray Brands, Inc. (TLRY) closed at $5.38, marking a -2% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.13% for the day. On the other hand, the Dow registered a gain of 0.45%, and the technology-centric Nasdaq increased by 0.03%.
Shares of the company have depreciated by 6.95% over the course of the past month, underperforming the Medical sector's gain of 1.01%, and the S&P 500's gain of 5.25%.
The upcoming earnings release of Tilray Brands, Inc. will be of great interest to investors. The company is forecasted to report an EPS of -$0.01, showcasing a 105% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $268.17 million, reflecting a 19.43% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.58 per share and revenue of $885.3 million, indicating changes of -680% and +7.79%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Tilray Brands, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Tilray Brands, Inc. holds 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 153, placing it within the bottom 38% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant 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 Report
This article originally published on Zacks Investment Research (zacks.com).