In the latest trading session, Tilray, Inc. (TLRY - Free Report) closed at $26.71, marking a +0.41% move from the previous day. This change outpaced the S&P 500's 0.24% loss on the day. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.58%.
Heading into today, shares of the company had lost 2.21% over the past month, lagging the Medical sector's gain of 1.15% and the S&P 500's gain of 4.96% in that time.
TLRY will be looking to display strength as it nears its next earnings release. On that day, TLRY is projected to report earnings of -$0.29 per share, which would represent a year-over-year decline of 262.5%. Our most recent consensus estimate is calling for quarterly revenue of $50.79 million, up 405.37% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.17 per share and revenue of $177.86 million. These totals would mark changes of -105.26% and +312.39%, respectively, from last year.
Investors might also notice 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate remained stagnant within the past month. TLRY currently has a Zacks Rank of #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.