B&G Foods (BGS) Stock Moves -0.48%: What You Should Know
In the latest trading session, B&G Foods (BGS) closed at $24.85, marking a -0.48% move from the previous day. This change was narrower than the S&P 500's 0.94% loss on the day. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 2.13%.
Prior to today's trading, shares of the food producer had gained 14.17% over the past month. This has outpaced the Consumer Staples sector's loss of 1.93% and the S&P 500's gain of 0.02% in that time.
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 68.42%. Our most recent consensus estimate is calling for quarterly revenue of $511.10 million, up 37.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.20 per share and revenue of $1.89 billion, which would represent changes of +34.15% and +13.74%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 has moved 2.33% higher within the past month. BGS currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, BGS is holding a Forward P/E ratio of 11.35. For comparison, its industry has an average Forward P/E of 17.96, 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 42, putting it in the top 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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