We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Beyond Meat (BYND) Surges 7.6%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Beyond Meat (BYND - Free Report) shares soared 7.6% in the last trading session to close at $38.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 30.8% loss over the past four weeks.
Shares of Beyond Meat got a boost on reports suggesting that the company’s McPlant burger may be a permanent inclusion in fast-food behemoth Mc Donald’s menu – which bodes well for Beyond Meat’s retail sales.
This plant-based meat company is expected to post quarterly loss of $1.04 per share in its upcoming report, which represents a year-over-year change of -147.6%. Revenues are expected to be $111.66 million, up 3.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Beyond Meat, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BYND going forward to see if this recent jump can turn into more strength down the road.
Beyond Meat is a member of the Zacks Food - Meat Products industry. One other stock in the same industry, Hormel Foods (HRL - Free Report) , finished the last trading session 0.9% higher at $52.85. HRL has returned 3.2% over the past month.
Hormel's consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.46. Compared to the company's year-ago EPS, this represents a change of +9.5%. Hormel currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Beyond Meat (BYND) Surges 7.6%: Is This an Indication of Further Gains?
Beyond Meat (BYND - Free Report) shares soared 7.6% in the last trading session to close at $38.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 30.8% loss over the past four weeks.
Shares of Beyond Meat got a boost on reports suggesting that the company’s McPlant burger may be a permanent inclusion in fast-food behemoth Mc Donald’s menu – which bodes well for Beyond Meat’s retail sales.
This plant-based meat company is expected to post quarterly loss of $1.04 per share in its upcoming report, which represents a year-over-year change of -147.6%. Revenues are expected to be $111.66 million, up 3.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Beyond Meat, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BYND going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Beyond Meat is a member of the Zacks Food - Meat Products industry. One other stock in the same industry, Hormel Foods (HRL - Free Report) , finished the last trading session 0.9% higher at $52.85. HRL has returned 3.2% over the past month.
Hormel's consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.46. Compared to the company's year-ago EPS, this represents a change of +9.5%. Hormel currently boasts a Zacks Rank of #3 (Hold).