Beyond Meat (BYND) Flat As Market Sinks: What You Should Know
Beyond Meat (BYND) closed at $22.86 in the latest trading session, marking no change from the prior day. This change was narrower than the S&P 500's daily loss of 2.91%. At the same time, the Dow lost 2.73%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the plant-based meat company had lost 8.85% over the past month, lagging the Consumer Staples sector's loss of 2.55% and the S&P 500's gain of 0.84% in that time.
Beyond Meat will be looking to display strength as it nears its next earnings release. In that report, analysts expect Beyond Meat to post earnings of -$1.21 per share. This would mark a year-over-year decline of 290.32%. Our most recent consensus estimate is calling for quarterly revenue of $149.01 million, down 0.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.55 per share and revenue of $558.34 million, which would represent changes of -58.54% and +20.15%, respectively, from the prior year.
Any recent changes to analyst estimates for Beyond Meat 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 43.01% lower. Beyond Meat is holding a Zacks Rank of #3 (Hold) right now.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 23, putting it in the top 10% 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.
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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