B&G Foods (BGS) Stock Sinks As Market Gains: What You Should Know
B&G Foods (BGS) closed at $27.63 in the latest trading session, marking a -0.61% move from the prior day. This move lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 1.72%.
Prior to today's trading, shares of the food producer had lost 8.85% over the past month. This has lagged the Consumer Staples sector's loss of 1.64% and the S&P 500's loss of 3.29% in that time.
Investors will be hoping for strength from BGS as it approaches its next earnings release. 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 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. BGS is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note BGS's current valuation metrics, including its Forward P/E ratio of 12.54. This valuation marks a discount compared to its industry's average Forward P/E of 18.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% 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.
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