Tilray, Inc. (TLRY - Free Report) closed the most recent trading day at $70, making no change from the previous trading session. This move lagged the S&P 500's daily gain of 1.47%. At the same time, the Dow added 0.79%, and the tech-heavy Nasdaq gained 2.02%.
Heading into today, shares of the company had lost 12.49% over the past month, lagging the Medical sector's gain of 1.05% and the S&P 500's gain of 1.5% in that time.
Investors will be hoping for strength from TLRY as it approaches its next earnings release, which is expected to be March 18, 2019.
It is also important to note the recent changes to analyst estimates for TLRY. These revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 moved 8.36% higher. TLRY is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% 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.
To follow TLRY in the coming trading sessions, be sure to utilize Zacks.com.