B&G Foods (BGS) closed at $25.70 in the latest trading session, marking a -1.53% move from the prior day. This move lagged the S&P 500's daily gain of 0.84%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 2.51%.
Coming into today, shares of the food producer had gained 7.41% in the past month. In that same time, the Consumer Staples sector gained 1.13%, while the S&P 500 gained 3.73%.
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 68.42% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $511.10 million, up 37.69% from the year-ago period.
BGS's full-year Zacks Consensus Estimates are calling for earnings of $2.20 per share and revenue of $1.89 billion. These results would represent year-over-year changes of +34.15% and +13.74%, respectively.
It is also important to note the recent changes to analyst estimates for BGS. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 2.33% higher. BGS is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, BGS is holding a Forward P/E ratio of 11.86. For comparison, its industry has an average Forward P/E of 18.15, 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 83, putting it in the top 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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