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Beyond Meat (BYND) Outpaces Stock Market Gains: What You Should Know
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Beyond Meat (BYND - Free Report) closed at $31.99 in the latest trading session, marking a +1.78% move from the prior day. This move outpaced the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the plant-based meat company had gained 31.29% over the past month. This has outpaced the Consumer Staples sector's gain of 3.23% and the S&P 500's gain of 6.69% in that time.
Wall Street will be looking for positivity from Beyond Meat as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, Beyond Meat is projected to report earnings of -$1.21 per share, which would represent a year-over-year decline of 290.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $148.47 million, down 0.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.54 per share and revenue of $554.48 million. These totals would mark changes of -58.19% and +19.32%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Beyond Meat. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. Beyond Meat currently has a Zacks Rank of #2 (Buy).
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 24, 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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Beyond Meat (BYND) Outpaces Stock Market Gains: What You Should Know
Beyond Meat (BYND - Free Report) closed at $31.99 in the latest trading session, marking a +1.78% move from the prior day. This move outpaced the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the plant-based meat company had gained 31.29% over the past month. This has outpaced the Consumer Staples sector's gain of 3.23% and the S&P 500's gain of 6.69% in that time.
Wall Street will be looking for positivity from Beyond Meat as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, Beyond Meat is projected to report earnings of -$1.21 per share, which would represent a year-over-year decline of 290.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $148.47 million, down 0.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.54 per share and revenue of $554.48 million. These totals would mark changes of -58.19% and +19.32%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Beyond Meat. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. Beyond Meat currently has a Zacks Rank of #2 (Buy).
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 24, 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.