In the latest trading session, Tilray Brands, Inc. (TLRY) closed at $4.31, marking a -1.6% move from the previous day. This change lagged the S&P 500's daily loss of 0.45%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 1.16%.
Coming into today, shares of the company had lost 12.92% in the past month. In that same time, the Medical sector gained 6.33%, while the S&P 500 gained 2.14%.
The investment community will be closely monitoring the performance of Tilray Brands, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.01, indicating a 105% decline compared to the equivalent quarter last year. 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.
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.
Investors should also pay attention to any latest changes in analyst estimates for Tilray Brands, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Tilray Brands, Inc. presently features a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 178, this industry ranks in the bottom 28% of all industries, numbering over 250.
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.
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 Report
This article originally published on Zacks Investment Research (zacks.com).