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B&G Foods (BGS) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research

B&G Foods (BGS) closed the most recent trading day at $30, moving -1.51% from the previous trading session. This change lagged the S&P 500's daily loss of 0.81%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 1.27%.

Prior to today's trading, shares of the food producer had gained 3.82% over the past month. This has outpaced the Consumer Staples sector's gain of 3.44% and lagged the S&P 500's gain of 5.06% in that time.

Wall Street will be looking for positivity from BGS as it approaches its next earnings report date. On that day, BGS is projected to report earnings of $0.64 per share, which would represent year-over-year growth of 18.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $453.53 million, up 11.62% from the year-ago period.

BGS's full-year Zacks Consensus Estimates are calling for earnings of $2.22 per share and revenue of $1.93 billion. These results would represent year-over-year changes of +35.37% and +16.17%, respectively.

Investors might also notice recent changes to analyst estimates for BGS. These recent revisions tend to reflect the evolving nature of short-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. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. BGS is holding a Zacks Rank of #2 (Buy) right now.

Digging into valuation, BGS currently has a Forward P/E ratio of 13.74. For comparison, its industry has an average Forward P/E of 18.43, which means BGS is trading at a discount to the group.

The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 125, putting it in the top 50% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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