SunOpta (STKL) Increases Despite Market Slip: Here's What You Need to Know
SunOpta (STKL) closed at $6.03 in the latest trading session, marking a +1.01% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.07%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.36%.
Coming into today, shares of the natural and organic food company had gained 8.94% in the past month. In that same time, the Consumer Staples sector gained 4.4%, while the S&P 500 gained 3.05%.
Investors will be eagerly watching for the performance of SunOpta in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.01, reflecting a 50% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $165.1 million, indicating a 25.39% downward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for SunOpta. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SunOpta is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, SunOpta is holding a Forward P/E ratio of 44.22. Its industry sports an average Forward P/E of 17.38, so one might conclude that SunOpta is trading at a premium comparatively.
The Food - Miscellaneous industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 185, placing it within the bottom 27% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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SunOpta, Inc. (STKL) : Free Stock Analysis Report
