New Age Beverage Corporation (NBEV) Stock Sinks As Market Gains: What You Should Know

New Age Beverage Corporation (NBEV) closed the most recent trading day at $5.24, moving -0.57% from the previous trading session. This move lagged the S&P 500's daily gain of 0.88%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq gained 1.32%.

Prior to today's trading, shares of the company had gained 0.38% over the past month. This has lagged the Consumer Staples sector's gain of 3.38% and the S&P 500's gain of 3.96% in that time.

Wall Street will be looking for positivity from NBEV as it approaches its next earnings report date. On that day, NBEV is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 71.43%. Our most recent consensus estimate is calling for quarterly revenue of $59.60 million, up 415.53% from the year-ago period.

Any recent changes to analyst estimates for NBEV should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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. Over the past month, the Zacks Consensus EPS estimate 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 32.94 right now. This valuation marks a premium compared to its industry's average Forward P/E of 22.68.

The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 34% 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.

To follow NBEV in the coming trading sessions, be sure to utilize Zacks.com.

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