Tilray Brands, Inc. (TLRY) closed the most recent trading day at $1.95, showing a modest increase of 1.56% from the previous session. This move, however, lagged behind the S&P 500’s daily gain of 1.61%. The Dow also saw an upswing of 1.39%, while the tech-heavy Nasdaq appreciated by 2.34%.
In the past month, Tilray’s stock has risen by 1.05%, trailing the Consumer Staples sector’s gain of 3.21% and surpassing the S&P 500’s loss of 2.88%. Investors will be keeping a close eye on Tilray’s upcoming earnings disclosure, as it could offer crucial insights into the company’s financial health and future prospects.
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 latest consensus estimate predicts revenue to reach $214.95 million, indicating a 21.47% increase compared to the same quarter of the previous year.
Looking at the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.12 per share and a revenue of $900.03 million. This indicates changes of +63.64% and +14.08%, respectively, from the previous year.
To further understand Tilray’s potential, investors should pay attention to any recent revisions to analyst forecasts. These modifications usually reflect changing near-term business trends. Positive estimate revisions are generally considered a good sign for a company’s business outlook.
Empirical research suggests a direct correlation between these estimate revisions and impending stock price performance. Investors can leverage this insight by using the Zacks Rank. This model takes into account these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of exceeding expectations, as confirmed by external audits. Stocks ranked #1 have delivered an average annual return of +25% since 1988.
Over the past month, the Zacks Consensus EPS estimate has shifted 4.76% upward. Currently, Tilray Brands, Inc. boasts a Zacks Rank of #3 (Hold).
The Consumer Products – Staples industry, part of the Consumer Staples sector, currently holds a Zacks Industry Rank of 188. This places the industry within the bottom 26% of all industries, which number over 250. The Zacks Industry Rank evaluates the strength of individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
In summary, Tilray Brands, Inc.’s upcoming earnings report and its current Zacks Rank provide valuable insights for investors seeking to gauge the company’s future prospects. The company’s positive earnings estimates and upward trend in Zacks Consensus EPS suggest potential growth, but investors should remain aware of the company’s lagging stock performance compared to the broader market.
