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Tilray Brands, Inc. (TLRY) Gains But Lags Market: What You Should Know
In the latest trading session, Tilray Brands, Inc. (TLRY - Free Report) closed at $2.62, marking a +0.38% move from the previous day. The stock lagged the S&P 500's daily gain of 0.56%. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 1.35%.
Heading into today, shares of the company had lost 9.06% over the past month, lagging the Consumer Staples sector's loss of 1.86% and the S&P 500's loss of 1.48% in that time.
Wall Street will be looking for positivity from Tilray Brands, Inc. as it approaches its next earnings report date. In that report, analysts expect Tilray Brands, Inc. to post earnings of -$0.05 per share. This would mark a year-over-year decline of 225%. Meanwhile, our latest consensus estimate is calling for revenue of $149.66 million, down 1.45% from the prior-year quarter.
TLRY's full-year Zacks Consensus Estimates are calling for earnings of -$0.33 per share and revenue of $605.39 million. These results would represent year-over-year changes of -17.86% and -3.66%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.1% higher. Tilray Brands, Inc. is currently a Zacks Rank #3 (Hold).
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% 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.
To follow TLRY in the coming trading sessions, be sure to utilize Zacks.com.