In the latest trading session, Beyond Meat (BYND) closed at $144.74, marking a +0.86% move from the previous day. This move lagged the S&P 500's daily gain of 1.31%. Meanwhile, the Dow gained 1.9%, and the Nasdaq, a tech-heavy index, added 1.01%.
Investors will be hoping for strength from BYND as it approaches its next earnings release. On that day, BYND is projected to report earnings of -$0.02 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.12 per share and revenue of $448.86 million, which would represent changes of +400% and +50.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BYND. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. BYND is currently a Zacks Rank #2 (Buy).
Looking at its valuation, BYND is holding a Forward P/E ratio of 1195.92. This represents a premium compared to its industry's average Forward P/E of 13.6.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% 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.