In the latest close session, Tilray Brands, Inc. (TLRY) was down 1.34% at $4.43. The stock's change was less than the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.66%.
Prior to today's trading, shares of the company had lost 16.54% lagged the Medical sector's gain of 6.47% and the S&P 500's loss of 1.21%.
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%. Meanwhile, the latest consensus estimate predicts the revenue to be $268.17 million, indicating a 19.43% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.58 per share and revenue of $885.3 million. These totals would mark changes of -680% and +7.79%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tilray Brands, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Tilray Brands, Inc. is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 169, positioning it in the bottom 32% of all 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Tilray Brands, Inc. (TLRY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).