B&G Foods (NYSE:BGS) closed at $27.77 in the latest trading session, marking a -0.14% move from the prior day. This change lagged the S&P 500's 0.83% gain on the day. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq added 0.74%.
Coming into today, shares of the food producer had lost 8.91% in the past month. In that same time, the Consumer Staples sector lost 2.95%, while the S&P 500 lost 4.83%.
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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $453.53 million, up 11.62% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for BGS. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BGS is currently a Zacks Rank #3 (Hold).
Digging into valuation, BGS currently has a Forward P/E ratio of 12.55. Its industry sports an average Forward P/E of 18, so we one might conclude that BGS is trading at a discount comparatively.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 122, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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