In the latest trading session, New Age Beverage Corporation closed at $6.31, marking a -0.94% move from the previous day. This change lagged the S&P 500's daily loss of 0.35%. Meanwhile, the Dow lost 0.4%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Heading into today, shares of the company had lost 0.93% over the past month, lagging the Consumer Staples sector's gain of 4.95% and the S&P 500's gain of 4.48% in that time.
NBEV will be looking to display strength as it nears its next earnings release.
Investors might also notice recent changes to analyst estimates for NBEV. 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 300% higher. NBEV is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that NBEV has a Forward P/E ratio of 159.25 right now. Its industry sports an average Forward P/E of 21.01, so we one might conclude that NBEV is trading at a premium comparatively.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
To follow NBEV in the coming trading sessions, be sure to utilize Zacks.com.
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New Age Beverage Corporation (NBEV) Dips More Than Broader Markets: What You Should Know
In the latest trading session, New Age Beverage Corporation closed at $6.31, marking a -0.94% move from the previous day. This change lagged the S&P 500's daily loss of 0.35%. Meanwhile, the Dow lost 0.4%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Heading into today, shares of the company had lost 0.93% over the past month, lagging the Consumer Staples sector's gain of 4.95% and the S&P 500's gain of 4.48% in that time.
NBEV will be looking to display strength as it nears its next earnings release.
Investors might also notice recent changes to analyst estimates for NBEV. 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 300% higher. NBEV is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that NBEV has a Forward P/E ratio of 159.25 right now. Its industry sports an average Forward P/E of 21.01, so we one might conclude that NBEV is trading at a premium comparatively.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
To follow NBEV in the coming trading sessions, be sure to utilize Zacks.com.