Beyond Meat (BYND) Gains As Market Dips: What You Should Know

In the latest trading session, Beyond Meat (BYND) closed at $61.60, marking a +0.29% move from the previous day. This change outpaced the S&P 500's 1.89% loss on the day. Meanwhile, the Dow lost 1.3%, and the Nasdaq, a tech-heavy index, lost 0.17%.

Prior to today's trading, shares of the plant-based meat company had lost 9.66% over the past month. This has lagged the Consumer Staples sector's gain of 1.88% and the S&P 500's loss of 1.79% in that time.

Wall Street will be looking for positivity from Beyond Meat as it approaches its next earnings report date. On that day, Beyond Meat is projected to report earnings of -$0.73 per share, which would represent a year-over-year decline of 114.71%. Meanwhile, our latest consensus estimate is calling for revenue of $103.98 million, up 2% from the prior-year quarter.

Any recent changes to analyst estimates for Beyond Meat should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. 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 46, which puts it in the top 19% 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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