Beyond Meat (BYND) Outpaces Stock Market Gains: What You Should Know
Beyond Meat (BYND) closed the most recent trading day at $127.78, moving +1.43% from the previous trading session. This change outpaced the S&P 500's 1.34% gain on the day. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 0.94%.
Heading into today, shares of the plant-based meat company had lost 18.2% over the past month, lagging the Consumer Staples sector's gain of 1.64% and the S&P 500's gain of 3.92% 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 -$0.02, down 300% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $96.95 million, up 44.17% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.07 per share and revenue of $448.86 million. These totals would mark changes of +275% and +50.67%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for BYND. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. BYND is currently a Zacks Rank #3 (Hold).
In terms of valuation, BYND is currently trading at a Forward P/E ratio of 1737.66. This valuation marks a premium compared to its industry's average Forward P/E of 14.83.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 237, putting it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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