Back in April, I highlighted SodaStream (SODA – Snapshot Report) as a ‘bear of the day' candidate due to its sluggish earnings estimates and low growth outlook. And though the stock had a brief surge in the early summer, shares are now down double digits since that time and are easily underperforming the market too.

The pain might not be over just yet for SODA though as both investors and consumers are still losing faith in the company. In fact, if you look to the recent earnings report, there is plenty of reason to believe that SODA shares will continue to decline from here.

SODA Outlook

Adjusted earnings missed the consensus estimate by over 50% as concerns over both margins and product demand continue to build. Revenues were also extremely weak including a 29% slump year-over-year and a 44% decline in the key Americas division.

And while carbon dioxide refill sales were up, sparkling water make starter kit sales declined by 37% while flavor unit sales slid by 45%. Clearly the fad is coming to an end and with a one year price decline for SODA of over 45%, there is little prospect for a turnaround in the near term.

Analysts share this sentiment too, at least if you look to recent changes in their earnings estimates. Not a single estimate for the full year or next year time frames has gone higher in the past sixty days while year-over-year EPS is expected to contract by about 10%.

(CENT) and Nutrisystem (NTRI – Snapshot Report) stand out as impressive choices. Both of these have seen rising earnings estimates as of late and they both had a double digit positive EPS surprise in the past quarter. So if you are looking for a better consumer pick, take either of these into account instead of SODA, at least until SodaStream can find a solid growth avenue once more.