In the latest trading session, Tilray Brands, Inc. (TLRY) closed at $4.46, marking a -2.83% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.46%.
Shares of the company witnessed a loss of 17.3% over the previous month, trailing the performance of the Medical sector with its gain of 2.92%, and the S&P 500's loss of 1.4%.
Market participants will be closely following the financial results of Tilray Brands, Inc. in its upcoming release. In that report, analysts expect Tilray Brands, Inc. to post earnings of -$0.01 per share. This would mark a year-over-year decline of 105%. 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.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.58 per share and revenue of $885.3 million, which would represent changes of -680% and +7.79%, respectively, from the prior year.
It is also important to note the recent changes to 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Tilray Brands, Inc. is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 160, placing it within the bottom 35% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Report
This article originally published on Zacks Investment Research (zacks.com).