B&G Foods (BGS) Gains As Market Dips: What You Should Know
In the latest trading session, B&G Foods (BGS) closed at $28.23, marking a +0.75% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 0.87%.
Coming into today, shares of the food producer had lost 4.82% in the past month. In that same time, the Consumer Staples sector lost 0.04%, while the S&P 500 gained 4.69%.
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 $0.44 per share, which would represent year-over-year growth of 57.14%. Meanwhile, our latest consensus estimate is calling for revenue of $525.63 million, up 11.8% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for BGS. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 remained stagnant. BGS is currently a Zacks Rank #2 (Buy).
Investors should also note BGS's current valuation metrics, including its Forward P/E ratio of 11.63. Its industry sports an average Forward P/E of 20.24, so we one might conclude that BGS is trading at a discount comparatively.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
B&G Foods, Inc. (BGS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
