In the latest trading session, Tilray, Inc. (TLRY - Free Report) closed at $17.78, marking a +1.08% move from the previous day. This move outpaced the S&P 500's daily gain of 0.33%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.67%.
Prior to today's trading, shares of the company had gained 11.33% over the past month. This has outpaced the Medical sector's gain of 3.75% and the S&P 500's gain of 3.24% in that time.
Investors will be hoping for strength from TLRY as it approaches its next earnings release. On that day, TLRY is projected to report earnings of -$0.35 per share, which would represent a year-over-year decline of 20.69%. Meanwhile, our latest consensus estimate is calling for revenue of $54.92 million, up 253.66% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for TLRY. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 5.56% lower. 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 107, putting it in the top 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.