Tilray Brands, Inc. (TLRY) closed the latest trading session at $1.78, showing a 0.56% increase compared to the previous day’s closing price. This growth was higher than the S&P 500’s 0.26% increase for the day. The Dow also went up by 0.18%, while the Nasdaq, which is technology-focused, saw a rise of 0.35%.
Over the past month, Tilray Brands, Inc. has experienced a loss of 8.29%, underperforming the Consumer Staples sector’s 0.52% loss and the S&P 500’s 3.25% gain. Investors are eagerly awaiting the upcoming earnings report from Tilray Brands, Inc. The current consensus estimate predicts quarterly revenue of $225.65 million, a 22.51% increase from the same period last year.
It’s essential for investors to pay attention to any recent changes in analyst estimates for Tilray Brands, Inc. These changes reflect the evolving business trends in the short term. Positive revisions in estimates indicate analyst confidence in the company’s business and profitability.
Studies have shown a direct link between estimate revisions and short-term stock price momentum. To capitalize on this, the Zacks Rank was created, a model that considers these estimate changes and provides a rating system. The Zacks Rank ranges from #1 (Strong Buy) to #5 (Strong Sell) and has a proven track record of success. Stocks with a #1 rank have historically delivered an average annual return of +25% since 1988. In the last 30 days, the consensus EPS projection has increased by 5.09%. Currently, Tilray Brands, Inc. holds a Zacks Rank of #2 (Buy).
The Consumer Products – Staples industry belongs to the Consumer Staples sector and currently has a Zacks Industry Rank of 44, placing it in the top 18% of over 250 industries. The Zacks Industry Rank evaluates the strength of industry groups by calculating the average Zacks Rank of the individual stocks within the groups. Research indicates that industries in the top 50% outperform those in the bottom half by a ratio of 2 to 1.
To stay informed about these important stock-moving metrics and more, visit Zacks.com. For the latest recommendations from Zacks Investment Research, you can download the 7 Best Stocks for the Next 30 Days report for free.