Tilray Brands, Inc. (TLRY) Registers a Bigger Fall Than the Market: Important Facts to Note

Tilray Brands, Inc. (TLRY) closed the most recent trading day at $6.95, moving -3.74% from the previous trading session. This move lagged the S&P 500's daily loss of 1.52%. At the same time, the Dow lost 1.56%, and the tech-heavy Nasdaq lost 1.78%.

Coming into today, shares of the company had lost 5.25% in the past month. In that same time, the Medical sector lost 3.1%, while the S&P 500 lost 2.25%.

Market participants will be closely following the financial results of Tilray Brands, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.14, reflecting a 86% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $205.93 million, up 10.85% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.56 per share and revenue of $871.99 million, which would represent changes of -660% and +6.17%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Tilray Brands, Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Tilray Brands, Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 40% 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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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