B&G Foods (BGS) Gains As Market Dips: What You Should Know
B&G Foods (BGS) closed at $29.26 in the latest trading session, marking a +0.55% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Coming into today, shares of the food producer had gained 7.66% in the past month. In that same time, the Consumer Staples sector gained 3.19%, while the S&P 500 gained 5.91%.
BGS will be looking to display strength as it nears its next earnings release. In that report, analysts expect BGS to post earnings of $0.64 per share. This would mark year-over-year growth of 18.52%. Our most recent consensus estimate is calling for quarterly revenue of $453.53 million, up 11.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.22 per share and revenue of $1.93 billion. These totals would mark changes of +35.37% and +16.17%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for BGS. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 past month, the Zacks Consensus EPS estimate remained stagnant. BGS is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BGS is holding a Forward P/E ratio of 13.13. This represents a discount compared to its industry's average Forward P/E of 18.16.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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