Tilray Brands, Inc. (TLRY) closed the most recent trading day at $1.03, moving -12.71% from the previous trading session. The stock’s performance was behind the S&P 500’s daily loss of 0.29%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.4%.
Coming into today, shares of the company had gained 93.03% in the past month. In that same time, the Medical sector lost 0.65%, while the S&P 500 gained 3.25%.
Analysts and investors alike will be keeping a close eye on the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.03, indicating a 25% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $206.83 million, showing a 3.39% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.11 per share and a revenue of $877.28 million, signifying shifts of -1200% and +6.81%, respectively, from the last 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 30% rise in the Zacks Consensus EPS estimate. Tilray Brands, Inc. currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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