Tilray Brands, Inc. (TLRY) closed at $1.72 in the latest trading session, marking a +1.18% move from the prior day. This move lagged the S&P 500’s daily gain of 1.45%. Meanwhile, the Dow gained 2.12%, and the Nasdaq, a tech-heavy index, added 5.41%.
Prior to today’s trading, shares of the company had lost 32.54% over the past month. This has lagged the Consumer Staples sector’s loss of 6.3% and the S&P 500’s gain of 1.53% in that time.
Investors will be hoping for strength from Tilray Brands, Inc. as it approaches its next earnings release. In that report, analysts expect Tilray Brands, Inc. to post earnings of -$0.04 per share. This would mark year-over-year growth of 88.24%. Meanwhile, our latest consensus estimate is calling for revenue of $153.02 million, down 0.2% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Tilray Brands, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Tilray Brands, Inc. currently has a Zacks Rank of #4 (Sell).
The Consumer Products – Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% 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.
To follow TLRY in the coming trading sessions, be sure to utilize Zacks.com.
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