B&G Foods (BGS) closed at $28.53 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 1.63%. Meanwhile, the Dow lost 1.44%, and the Nasdaq, a tech-heavy index, lost 1.65%.
Heading into today, shares of the food producer had gained 5.67% over the past month, outpacing the Consumer Staples sector's gain of 1.42% and the S&P 500's gain of 2.86% in that time.
Wall Street will be looking for positivity from BGS as it approaches its next earnings report date. 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, our latest consensus estimate is calling for revenue of $453.53 million, up 11.62% from the prior-year quarter.
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 help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. BGS currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BGS has a Forward P/E ratio of 12.87 right now. This represents a discount compared to its industry's average Forward P/E of 17.78.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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