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Tilray Brands, Inc. (TLRY) Gains But Lags Market: What You Should Know

·2 min read

In the latest trading session, Tilray Brands, Inc. (TLRY) closed at $3.22, marking a +1.58% move from the previous day. This change lagged the S&P 500's 1.83% gain on the day. Elsewhere, the Dow gained 1.4%, while the tech-heavy Nasdaq added 0.09%.

Coming into today, shares of the company had lost 17.45% in the past month. In that same time, the Consumer Staples sector lost 3.95%, while the S&P 500 lost 5.51%.

Wall Street will be looking for positivity from Tilray Brands, Inc. as it approaches its next earnings report date. On that day, Tilray Brands, Inc. is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $156.54 million, down 6.83% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.22 per share and revenue of $653.38 million, which would represent changes of +21.43% and +3.98%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Tilray Brands, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Tilray Brands, Inc. currently has a Zacks Rank of #3 (Hold).

The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% 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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