New Age Beverage Corporation (NBEV) closed at $5.47 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's daily gain of 0.11%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.19%.
Prior to today's trading, shares of the company had gained 5.95% over the past month. This has outpaced the Consumer Staples sector's gain of 2.71% and the S&P 500's gain of 4.42% in that time.
Wall Street will be looking for positivity from NBEV as it approaches its next earnings report date. On that day, NBEV is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 71.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $59.60 million, up 415.53% from the year-ago period.
Investors should also note any recent changes to analyst estimates for NBEV. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 has moved 300% higher. NBEV currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, NBEV is holding a Forward P/E ratio of 34.5. This valuation marks a premium compared to its industry's average Forward P/E of 23.02.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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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