In the latest trading session, Tilray Brands, Inc. (TLRY) closed at $2.69, marking a +0.37% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.25%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Prior to today's trading, shares of the company had lost 35.73% over the past month. This has lagged the Consumer Staples sector's gain of 1.31% and the S&P 500's loss of 2.59% in that time.
Tilray Brands, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be January 9, 2023. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $158.29 million, up 2.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.25 per share and revenue of $647.85 million, which would represent changes of +10.71% and +3.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Tilray Brands, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Within the past 30 days, our consensus EPS projection has moved 2.23% lower. Tilray Brands, Inc. is currently sporting a Zacks Rank of #4 (Sell).
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 201, which puts it in the bottom 21% 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.
Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2023? From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%.
Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.
Be First to New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
