SunOpta (STKL) Rises As Market Takes a Dip: Key Facts
SunOpta (STKL) closed the most recent trading day at $3.96, moving +1.28% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 1.43%. Elsewhere, the Dow saw a downswing of 0.32%, while the tech-heavy Nasdaq depreciated by 2.43%.
The natural and organic food company's shares have seen an increase of 13.33% over the last month, surpassing the Consumer Staples sector's loss of 2.91% and the S&P 500's loss of 1.55%.
The upcoming earnings release of SunOpta will be of great interest to investors. The company's earnings report is expected on November 8, 2023. The company's earnings per share (EPS) are projected to be -$0.01, reflecting a 150% decrease from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.02 per share and a revenue of $885 million, indicating changes of -75% and -5.31%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for SunOpta. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, SunOpta possesses a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that SunOpta has a Forward P/E ratio of 195.5 right now. Its industry sports an average Forward P/E of 15.19, so one might conclude that SunOpta is trading at a premium comparatively.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 33% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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SunOpta, Inc. (STKL) : Free Stock Analysis Report
