In the latest market close, Tilray Brands, Inc. (TLRY) reached $1.45, with a -0.68% movement compared to the previous day. This change lagged the S&P 500’s 1.26% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 1.77%.
Shares of the company witnessed a gain of 12.31% over the previous month, beating the performance of the Consumer Staples sector with its loss of 6.03% and the S&P 500’s loss of 2.82%.
The investment community will be paying close attention to the earnings performance of Tilray Brands, Inc. in its upcoming release. The company is slated to reveal its earnings on January 10, 2025. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $218.22 million, up 12.62% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.14 per share and a revenue of $908.93 million, indicating changes of +57.58% and +15.21%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Tilray Brands, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.33% upward. Right now, Tilray Brands, Inc. possesses a Zacks Rank of #3 (Hold).
The Consumer Products – Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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