In the latest trading session, Tilray, Inc. (TLRY) closed at $70, marking a -0.65% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.48%. Meanwhile, the Dow lost 2.83%, and the Nasdaq, a tech-heavy index, lost 3.04%.
Coming into today, shares of the company had lost 29.72% in the past month. In that same time, the Medical sector lost 9.67%, while the S&P 500 lost 8.82%.
Investors will be hoping for strength from TLRY as it approaches its next earnings release, which is expected to be February 12, 2019.
It is also important to note the recent changes to analyst estimates for TLRY. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. TLRY is currently a Zacks Rank #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% 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.