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Beyond Meat (BYND) Gains But Lags Market: What You Should Know
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Beyond Meat (BYND - Free Report) closed at $169.09 in the latest trading session, marking a +0.1% move from the prior day. The stock lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.95%.
Heading into today, shares of the plant-based meat company had gained 39.95% over the past month, outpacing the Consumer Staples sector's loss of 0.53% and the S&P 500's gain of 4.41% 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 -$0.14 per share. This would mark a year-over-year decline of 1300%. Our most recent consensus estimate is calling for quarterly revenue of $104.48 million, up 6.09% from the year-ago period.
It is also important to note the recent changes to analyst estimates for BYND. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 41.58% lower. BYND currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 2004.14 right now. This valuation marks a premium compared to its industry's average Forward P/E of 20.16.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 118, putting it in the top 47% 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.
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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Beyond Meat (BYND) Gains But Lags Market: What You Should Know
Beyond Meat (BYND - Free Report) closed at $169.09 in the latest trading session, marking a +0.1% move from the prior day. The stock lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.95%.
Heading into today, shares of the plant-based meat company had gained 39.95% over the past month, outpacing the Consumer Staples sector's loss of 0.53% and the S&P 500's gain of 4.41% 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 -$0.14 per share. This would mark a year-over-year decline of 1300%. Our most recent consensus estimate is calling for quarterly revenue of $104.48 million, up 6.09% from the year-ago period.
It is also important to note the recent changes to analyst estimates for BYND. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 41.58% lower. BYND currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 2004.14 right now. This valuation marks a premium compared to its industry's average Forward P/E of 20.16.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 118, putting it in the top 47% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.