Beyond Meat (BYND) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Beyond Meat (BYND) closed at $38.90, marking a +1.49% move from the previous day. This move outpaced the S&P 500's daily gain of 0.48%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.43%.
Coming into today, shares of the plant-based meat company had lost 25.49% in the past month. In that same time, the Consumer Staples sector lost 1.18%, while the S&P 500 lost 8.48%.
Investors will be hoping for strength from Beyond Meat as it approaches its next earnings release, which is expected to be May 11, 2022. The company is expected to report EPS of -$1.04, down 147.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $111.66 million, up 3.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.18 per share and revenue of $582.81 million, which would represent changes of -10.8% and +25.42%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Beyond Meat. Recent revisions tend to reflect the latest near-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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. Beyond Meat is holding a Zacks Rank of #3 (Hold) right now.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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, Inc. (BYND) : Free Stock Analysis Report
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