Tilray Brands, Inc. (TLRY) closed at $1.70 in the latest trading session, marking a +1.19% move from the prior day. The stock’s performance was ahead of the S&P 500’s daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.04%.
The company’s shares have seen an increase of 1.2% over the last month, surpassing the Consumer Staples sector’s loss of 0.25% and falling behind the S&P 500’s gain of 1.25%.
The investment community will be paying close attention to the earnings performance of Tilray Brands, Inc. in its upcoming release. The company is slated to reveal its earnings on October 10, 2024. On that day, Tilray Brands, Inc. is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $216.47 million, up 22.33% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.16 per share and a revenue of $901.62 million, indicating changes of +51.52% and +14.28%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Tilray Brands, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 28% lower. At present, Tilray Brands, Inc. boasts a Zacks Rank of #3 (Hold).
The Consumer Products – Staples industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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