In the latest trading session, Tilray, Inc. (TLRY) closed at $7.74, marking a -1.4% move from the previous day. This move lagged the S&P 500’s daily gain of 1.02%. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq lost 0.4%.
Prior to today’s trading, shares of the company had lost 25.24% over the past month. This has lagged the Medical sector’s gain of 0.37% and the S&P 500’s loss of 0.91% in that time.
Tilray, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be January 10, 2022.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.27 per share and revenue of $720.95 million, which would represent changes of +41.3% and +144.52%, respectively, from the prior year.
Any recent changes to analyst estimates for Tilray, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.37% lower. Tilray, Inc. 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 114, putting it in the top 45% 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.
To follow TLRY in the coming trading sessions, be sure to utilize Zacks.com.
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