In the latest trading session, Tilray, Inc. (TLRY) closed at $19.77, marking a +0.05% move from the previous day. The stock lagged the S&P 500's daily gain of 0.42%.
Heading into today, shares of the company had lost 13.4% over the past month, lagging the Medical sector's loss of 2.13% and the S&P 500's gain of 6.32% in that time.
TLRY will be looking to display strength as it nears its next earnings release. On that day, TLRY is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 79.59%. Our most recent consensus estimate is calling for quarterly revenue of $61.86 million, up 18.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.38 per share and revenue of $296.19 million. These totals would mark changes of +82.33% and +40.72%, respectively, from last 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. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. TLRY is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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