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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 the most recent trading day at $194.95, moving +0.81% from the previous trading session. This change lagged the S&P 500's 0.88% gain on the day. Meanwhile, the Dow gained 0.57%, and the Nasdaq, a tech-heavy index, added 1.39%.
Prior to today's trading, shares of the plant-based meat company had gained 35.19% over the past month. This has outpaced the Consumer Staples sector's gain of 2.7% and the S&P 500's gain of 3.54% in that time.
BYND will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.03, down 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $135.56 million, up 47.41% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for BYND. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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. The Zacks Consensus EPS estimate has moved 14.82% lower within the past month. BYND is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 3363.13 right now. For comparison, its industry has an average Forward P/E of 25.46, which means BYND is trading at a premium to the group.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 128, putting it in the top 50% 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.
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 the most recent trading day at $194.95, moving +0.81% from the previous trading session. This change lagged the S&P 500's 0.88% gain on the day. Meanwhile, the Dow gained 0.57%, and the Nasdaq, a tech-heavy index, added 1.39%.
Prior to today's trading, shares of the plant-based meat company had gained 35.19% over the past month. This has outpaced the Consumer Staples sector's gain of 2.7% and the S&P 500's gain of 3.54% in that time.
BYND will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.03, down 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $135.56 million, up 47.41% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for BYND. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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. The Zacks Consensus EPS estimate has moved 14.82% lower within the past month. BYND is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 3363.13 right now. For comparison, its industry has an average Forward P/E of 25.46, which means BYND is trading at a premium to the group.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 128, putting it in the top 50% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.