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Tilray, Inc. (TLRY) Gains As Market Dips: What You Should Know

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In the latest trading session, Tilray, Inc. (TLRY - Free Report) closed at $22.04, marking a +1.9% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.32%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 0.11%.

Coming into today, shares of the company had lost 15.38% in the past month. In that same time, the Medical sector gained 0.15%, while the S&P 500 gained 4.4%.

Investors will be hoping for strength from TLRY as it approaches its next earnings release. In that report, analysts expect TLRY to post earnings of -$0.10 per share. This would mark year-over-year growth of 79.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $61.86 million, up 18.74% from the year-ago period.

TLRY's full-year Zacks Consensus Estimates are calling for earnings of -$0.38 per share and revenue of $296.19 million. These results would represent year-over-year changes of +82.33% and +40.72%, respectively.

It is also important to note the recent changes to analyst estimates for TLRY. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. TLRY is currently a Zacks Rank #3 (Hold).

The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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