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Tilray, Inc. (TLRY) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
Updated
Ranger Energy Services, Inc. (RNGR) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Tilray, Inc. (TLRY) closed at $120.79 in the latest trading session, marking a -1.48% move from the prior day. This move lagged the S&P 500's daily loss of 0.55%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.42%.

Coming into today, shares of the company had gained 23.22% in the past month. In that same time, the Medical sector lost 6.09%, while the S&P 500 lost 5.71%.

TLRY will be looking to display strength as it nears its next earnings release, which is expected to be November 27, 2018.

Any recent changes to analyst estimates for TLRY should also be noted by investors. 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.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 has moved 5.93% lower. TLRY currently has a Zacks Rank of #4 (Sell).

The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 97, putting it in the top 38% 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.

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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Zacks Investment Research