B&G Foods (BGS) closed at $28.20 in the latest trading session, marking a -0.46% move from the prior day. This change was narrower than the S&P 500's 1.4% loss on the day. At the same time, the Dow lost 1.34%, and the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the food producer had lost 5.57% over the past month. This has lagged the Consumer Staples sector's loss of 0.42% and the S&P 500's loss of 0.46% in that time.
Wall Street will be looking for positivity from BGS as it approaches its next earnings report date. The company is expected to report EPS of $0.64, up 18.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $453.53 million, up 11.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.22 per share and revenue of $1.93 billion, which would represent changes of +35.37% and +16.17%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BGS. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. BGS currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, BGS is holding a Forward P/E ratio of 12.78. Its industry sports an average Forward P/E of 18, 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 group has a Zacks Industry Rank of 105, putting it in the top 42% 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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