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Beyond Meat (BYND) Gains As Market Dips: What You Should Know
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In the latest trading session, Beyond Meat (BYND - Free Report) closed at $15.70, marking a +1.16% move from the previous day. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the plant-based meat company had gained 9.53% over the past month. This has outpaced the Consumer Staples sector's gain of 4.86% and the S&P 500's gain of 4.98% in that time.
Investors will be hoping for strength from Beyond Meat as it approaches its next earnings release, which is expected to be November 9, 2022. On that day, Beyond Meat is projected to report earnings of -$1.09 per share, which would represent a year-over-year decline of 25.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $91.25 million, down 14.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.29 per share and revenue of $417.63 million. These totals would mark changes of -84.32% and -10.13%, respectively, from last year.
Any recent changes to analyst estimates for Beyond Meat should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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 0.72% lower. Beyond Meat currently has a Zacks Rank of #3 (Hold).
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% 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.
To follow BYND in the coming trading sessions, be sure to utilize Zacks.com.
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Beyond Meat (BYND) Gains As Market Dips: What You Should Know
In the latest trading session, Beyond Meat (BYND - Free Report) closed at $15.70, marking a +1.16% move from the previous day. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the plant-based meat company had gained 9.53% over the past month. This has outpaced the Consumer Staples sector's gain of 4.86% and the S&P 500's gain of 4.98% in that time.
Investors will be hoping for strength from Beyond Meat as it approaches its next earnings release, which is expected to be November 9, 2022. On that day, Beyond Meat is projected to report earnings of -$1.09 per share, which would represent a year-over-year decline of 25.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $91.25 million, down 14.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.29 per share and revenue of $417.63 million. These totals would mark changes of -84.32% and -10.13%, respectively, from last year.
Any recent changes to analyst estimates for Beyond Meat should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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 0.72% lower. Beyond Meat currently has a Zacks Rank of #3 (Hold).
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% 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.
To follow BYND in the coming trading sessions, be sure to utilize Zacks.com.