Beyond Meat (BYND - Free Report) closed the most recent trading day at $135.24, moving -0.45% from the previous trading session. This move lagged the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 1.4%.
Prior to today's trading, shares of the plant-based meat company had gained 1.14% over the past month. This has lagged the Consumer Staples sector's gain of 3% and the S&P 500's gain of 7% in that time.
Wall Street will be looking for positivity from BYND as it approaches its next earnings report date. On that day, BYND is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 50%. Our most recent consensus estimate is calling for quarterly revenue of $132.77 million, up 44.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.07 per share and revenue of $482.45 million. These totals would mark changes of +275% and +61.95%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BYND. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 43.48% lower. BYND currently has a Zacks Rank of #3 (Hold).
Investors should also note BYND's current valuation metrics, including its Forward P/E ratio of 2090. This represents a premium compared to its industry's average Forward P/E of 27.53.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.