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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 $43.11, moving -1.89% from the previous trading session. This move lagged the S&P 500's daily loss of 0.27%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Coming into today, shares of the plant-based meat company had gained 3.19% in the past month. In that same time, the Consumer Staples sector gained 5.14%, while the S&P 500 gained 7.36%.
Investors will be hoping for strength from Beyond Meat as it approaches its next earnings release. On that day, Beyond Meat is projected to report earnings of -$1.04 per share, which would represent a year-over-year decline of 147.62%. Meanwhile, our latest consensus estimate is calling for revenue of $111.66 million, up 3.24% from the prior-year quarter.
BYND's full-year Zacks Consensus Estimates are calling for earnings of -$3.19 per share and revenue of $584.72 million. These results would represent year-over-year changes of -11.15% and +25.83%, respectively.
It is also important to note the 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. 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, 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. Within the past 30 days, our consensus EPS projection has moved 2.03% lower. Beyond Meat is currently a Zacks Rank #4 (Sell).
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% 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) Dips More Than Broader Markets: What You Should Know
Beyond Meat (BYND - Free Report) closed the most recent trading day at $43.11, moving -1.89% from the previous trading session. This move lagged the S&P 500's daily loss of 0.27%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Coming into today, shares of the plant-based meat company had gained 3.19% in the past month. In that same time, the Consumer Staples sector gained 5.14%, while the S&P 500 gained 7.36%.
Investors will be hoping for strength from Beyond Meat as it approaches its next earnings release. On that day, Beyond Meat is projected to report earnings of -$1.04 per share, which would represent a year-over-year decline of 147.62%. Meanwhile, our latest consensus estimate is calling for revenue of $111.66 million, up 3.24% from the prior-year quarter.
BYND's full-year Zacks Consensus Estimates are calling for earnings of -$3.19 per share and revenue of $584.72 million. These results would represent year-over-year changes of -11.15% and +25.83%, respectively.
It is also important to note the 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. 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, 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. Within the past 30 days, our consensus EPS projection has moved 2.03% lower. Beyond Meat is currently a Zacks Rank #4 (Sell).
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% 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.