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Why Tilray Brands, Inc. (TLRY) Dipped More Than Broader Market Today
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Tilray Brands, Inc. (TLRY - Free Report) ended the recent trading session at $0.38, demonstrating a -9.07% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%.
Heading into today, shares of the company had lost 14.65% over the past month, outpacing the Medical sector's loss of 0% and lagging the S&P 500's gain of 1.44%.
Investors will be eagerly watching for the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.03, showcasing a 25% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $254.8 million, showing a 10.84% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.01 per share and a revenue of $850.75 million, signifying shifts of -206.06% and 0%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Tilray Brands, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Tilray Brands, Inc. is carrying a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Why Tilray Brands, Inc. (TLRY) Dipped More Than Broader Market Today
Tilray Brands, Inc. (TLRY - Free Report) ended the recent trading session at $0.38, demonstrating a -9.07% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%.
Heading into today, shares of the company had lost 14.65% over the past month, outpacing the Medical sector's loss of 0% and lagging the S&P 500's gain of 1.44%.
Investors will be eagerly watching for the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.03, showcasing a 25% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $254.8 million, showing a 10.84% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.01 per share and a revenue of $850.75 million, signifying shifts of -206.06% and 0%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Tilray Brands, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Tilray Brands, Inc. is carrying a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.