Beyond Meat (BYND) closed at $158.28 in the latest trading session, marking a +0.05% move from the prior day. This move outpaced the S&P 500's daily loss of 0.57%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq added 0.03%.
BYND will be looking to display strength as it nears its next earnings release. On that day, BYND is projected to report earnings of -$0.02 per share, which would represent a year-over-year decline of 300%. Our most recent consensus estimate is calling for quarterly revenue of $96.95 million, up 44.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.12 per share and revenue of $448.86 million, which would represent changes of +400% and +50.67%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BYND. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. BYND is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, BYND currently has a Forward P/E ratio of 1318.33. Its industry sports an average Forward P/E of 14.55, 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 group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
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Beyond Meat, Inc. (BYND) : Free Stock Analysis Report
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