Tilray, Inc. (TLRY) closed at $40.76 in the latest trading session, marking a +0.3% move from the prior day. This move outpaced the S&P 500's daily loss of 0.26%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the company had lost 17.57% over the past month, lagging the Medical sector's loss of 2.01% and the S&P 500's gain of 2.87% in that time.
Investors will be hoping for strength from TLRY as it approaches its next earnings release. On that day, TLRY is projected to report earnings of -$0.23 per share, which would represent a year-over-year decline of 35.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $40.23 million, up 313.06% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.92 per share and revenue of $181.17 million, which would represent changes of -61.4% and +320.05%, respectively, from the prior year.
Any recent changes to analyst estimates for TLRY should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 3.31% lower within the past month. TLRY is currently a Zacks Rank #4 (Sell).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% 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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