In the latest trading session, Beyond Meat (BYND - Free Report) closed at $183.58, marking a -0.69% move from the previous day. This change lagged the S&P 500's 0.01% gain on the day. Elsewhere, the Dow gained 0.39%, while the tech-heavy Nasdaq lost 0.36%.
Heading into today, shares of the plant-based meat company had gained 17.57% over the past month, outpacing the Consumer Staples sector's gain of 0.95% and the S&P 500's gain of 2.55% in that time.
Wall Street will be looking for positivity from BYND as it approaches its next earnings report date. In that report, analysts expect BYND to post earnings of $0.03 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $135.56 million, up 47.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.06 per share and revenue of $491.67 million, which would represent changes of +250% and +65.05%, respectively, from the prior year.
Any recent changes to analyst estimates for BYND 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 14.82% lower. BYND is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note BYND's current valuation metrics, including its Forward P/E ratio of 3214.78. Its industry sports an average Forward P/E of 26.47, so we one might conclude that BYND is trading at a premium comparatively.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.