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In the latest trading session, Beyond Meat (BYND) closed at $56.54, marking a -0.04% move from the previous day. This change lagged the S&P 500's daily gain of 2.44%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 0.28%.
Prior to today's trading, shares of the plant-based meat company had lost 16.07% over the past month. This has lagged the Consumer Staples sector's loss of 1.73% and the S&P 500's loss of 9.65% in that time.
Investors will be hoping for strength from Beyond Meat as it approaches its next earnings release. In that report, analysts expect Beyond Meat to post earnings of -$0.73 per share. This would mark a year-over-year decline of 114.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $103.98 million, up 2% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Beyond Meat. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. Beyond Meat currently has a Zacks Rank of #3 (Hold).
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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Beyond Meat, Inc. (BYND) : Free Stock Analysis Report
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