The latest trading session saw Tilray Brands, Inc. (TLRY) ending at $1.28, denoting a -1.54% adjustment from its last day’s close. The stock’s performance was behind the S&P 500’s daily gain of 0.61%. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 1.31%.
Heading into today, shares of the company had lost 26.55% over the past month, lagging the Consumer Staples sector’s gain of 0.93% and the S&P 500’s gain of 5.79% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. Alongside, our most recent consensus estimate is anticipating revenue of $225.56 million, indicating a 16.41% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.14 per share and a revenue of $911.24 million, representing changes of +57.58% and +22.6%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tilray Brands, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has remained steady. As of now, Tilray Brands, Inc. holds a Zacks Rank of #2 (Buy).
The Consumer Products – Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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