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Beyond Meat (BYND) closed at $58.68 in the latest trading session, marking a +1.15% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.52%. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, added 0.11%.
Coming into today, shares of the plant-based meat company had lost 13.5% in the past month. In that same time, the Consumer Staples sector lost 1.35%, while the S&P 500 lost 6.51%.
Wall Street will be looking for positivity from Beyond Meat as it approaches its next earnings report date. The company is expected to report EPS of -$0.73, down 114.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $103.98 million, up 2% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Beyond Meat. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. Beyond Meat is currently sporting a Zacks Rank of #3 (Hold).
The Food – Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 27, which puts it in the top 11% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Beyond Meat, Inc. (BYND): Free Stock Analysis Report
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