Tilray, Inc. (TLRY) Gains As Market Dips: What You Should Know

Tilray, Inc. (TLRY) closed the most recent trading day at $51.26, moving +1.99% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.23%.

Heading into today, shares of the company had lost 24.93% over the past month, lagging the Medical sector's loss of 5.31% and the S&P 500's gain of 4.87% in that time.

Investors will be hoping for strength from TLRY as it approaches its next earnings release.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.04 per share and revenue of $228.10 million, which would represent changes of -82.46% and +428.87%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for TLRY. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 21.11% lower. TLRY currently has a Zacks Rank of #4 (Sell).

The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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