Here's Why Tilray Brands, Inc. (TLRY) Fell More Than Broader Market
The most recent trading session ended with Tilray Brands, Inc. (TLRY) standing at $1.66, reflecting a -1.19% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.16%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.3%.
The company's shares have seen a decrease of 7.18% over the last month, not keeping up with the Consumer Staples sector's gain of 2.98% and the S&P 500's gain of 3.64%.
Investors will be eagerly watching for the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.04, signifying a 60% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $214.95 million, up 21.47% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.12 per share and a revenue of $901.71 million, signifying shifts of +63.64% and +14.29%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Tilray Brands, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Tilray Brands, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Tilray Brands, Inc. (TLRY) : Free Stock Analysis Report