In the latest trading session, Tilray, Inc. (TLRY) closed at $19.22, marking a +1.53% move from the previous day. This move outpaced the S&P 500's daily gain of 0.31%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 0.26%.
Prior to today's trading, shares of the company had gained 10.51% over the past month. This has outpaced the Medical sector's loss of 1.25% and the S&P 500's gain of 1.18% in that time.
Wall Street will be looking for positivity from TLRY as it approaches its next earnings report date. The company is expected to report EPS of -$0.35, down 20.69% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $54.92 million, up 253.66% from the year-ago period.
Investors should also note any recent changes to analyst estimates for TLRY. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.86% lower within the past month. TLRY currently has a Zacks Rank of #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 112, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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