Tilray Brands, Inc. (TLRY) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Tilray Brands, Inc. (TLRY) closed at $2.79, marking a -0.36% move from the previous day. This change lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.45%.

Prior to today's trading, shares of the company had lost 25.93% over the past month. This has lagged the Consumer Staples sector's gain of 0.82% and the S&P 500's loss of 4.33% in that time.

Wall Street will be looking for positivity from Tilray Brands, Inc. as it approaches its next earnings report date. This is expected to be January 9, 2023. Our most recent consensus estimate is calling for quarterly revenue of $159.07 million, up 2.53% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.24 per share and revenue of $649.61 million. These totals would mark changes of +14.29% and +3.38%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Tilray Brands, Inc.These recent revisions tend to reflect the evolving nature of short-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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Tilray Brands, Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 22% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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