Tilray, Inc. (TLRY) closed the most recent trading day at $7.38, moving -1.99% from the previous trading session. This change lagged the S&P 500's daily gain of 0.77%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 1.49%.
Prior to today's trading, shares of the company had gained 8.19% over the past month. This has outpaced the Medical sector's gain of 4.73% and the S&P 500's gain of 5.03% in that time.
Investors will be hoping for strength from TLRY as it approaches its next earnings release, which is expected to be August 10, 2020. In that report, analysts expect TLRY to post earnings of -$0.27 per share. This would mark year-over-year growth of 15.63%. Our most recent consensus estimate is calling for quarterly revenue of $55.32 million, up 20.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.26 per share and revenue of $240.81 million, which would represent changes of +29.38% and +44.22%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TLRY. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. TLRY is holding a Zacks Rank of #2 (Buy) right now.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% 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.