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Beyond Meat (BYND) Dips More Than Broader Markets: What You Should Know
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Beyond Meat (BYND - Free Report) closed the most recent trading day at $61.49, moving -1.88% from the previous trading session. This move lagged the S&P 500's daily loss of 1.81%. Meanwhile, the Dow lost 1.47%, and the Nasdaq, a tech-heavy index, lost 0.51%.
Heading into today, shares of the plant-based meat company had lost 7.32% over the past month, lagging the Consumer Staples sector's loss of 0.94% and the S&P 500's loss of 1.84% in that time.
Wall Street will be looking for positivity from Beyond Meat as it approaches its next earnings report date. On that day, Beyond Meat is projected to report earnings of -$0.73 per share, which would represent a year-over-year decline of 114.71%. Meanwhile, our latest consensus estimate is calling for revenue of $103.98 million, up 2% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Beyond Meat. Recent revisions tend to reflect the latest 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Beyond Meat currently has a Zacks Rank of #3 (Hold).
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% 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.
To follow BYND in the coming trading sessions, be sure to utilize Zacks.com.
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Beyond Meat (BYND) Dips More Than Broader Markets: What You Should Know
Beyond Meat (BYND - Free Report) closed the most recent trading day at $61.49, moving -1.88% from the previous trading session. This move lagged the S&P 500's daily loss of 1.81%. Meanwhile, the Dow lost 1.47%, and the Nasdaq, a tech-heavy index, lost 0.51%.
Heading into today, shares of the plant-based meat company had lost 7.32% over the past month, lagging the Consumer Staples sector's loss of 0.94% and the S&P 500's loss of 1.84% in that time.
Wall Street will be looking for positivity from Beyond Meat as it approaches its next earnings report date. On that day, Beyond Meat is projected to report earnings of -$0.73 per share, which would represent a year-over-year decline of 114.71%. Meanwhile, our latest consensus estimate is calling for revenue of $103.98 million, up 2% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Beyond Meat. Recent revisions tend to reflect the latest 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Beyond Meat currently has a Zacks Rank of #3 (Hold).
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% 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.
To follow BYND in the coming trading sessions, be sure to utilize Zacks.com.