Beyond Meat (BYND) Outpaces Stock Market Gains: What You Should Know
Beyond Meat (BYND) closed at $126.72 in the latest trading session, marking a +1.3% move from the prior day. This change outpaced the S&P 500's 0.74% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 1.67%.
Prior to today's trading, shares of the plant-based meat company had lost 13.94% over the past month. This has lagged the Consumer Staples sector's gain of 5.63% and the S&P 500's gain of 5.51% in that time.
Investors will be hoping for strength from BYND as it approaches its next earnings release, which is expected to be August 4, 2020. In that report, analysts expect BYND to post earnings of -$0.02 per share. This would mark a year-over-year decline of 300%. Meanwhile, our latest consensus estimate is calling for revenue of $96.95 million, up 44.17% from the prior-year quarter.
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.
Investors should also note any recent changes to analyst estimates for BYND. These recent revisions tend to reflect the evolving nature of short-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. 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 remained stagnant. BYND currently has a Zacks Rank of #3 (Hold).
Investors should also note BYND's current valuation metrics, including its Forward P/E ratio of 1725.38. This represents a premium compared to its industry's average Forward P/E of 14.45.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 8% 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.