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Beyond Meat, Inc. (BYND) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2 min read

Beyond Meat, Inc. (BYND) closed at $116.64 in the latest trading session, marking a -1.24% move from the prior day. This change lagged the S&P 500's daily loss of 0.66%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 1.25%.

Coming into today, shares of the company had lost 14.08% in the past month. In that same time, the Consumer Staples sector gained 0.85%, while the S&P 500 gained 3.42%.

Wall Street will be looking for positivity from BYND as it approaches its next earnings report date. On that day, BYND is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 1200%. Our most recent consensus estimate is calling for quarterly revenue of $105.86 million, up 7.5% from the year-ago period.

Any recent changes to analyst estimates for BYND should also be noted by investors. Recent revisions tend to reflect the latest near-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. Over the past month, the Zacks Consensus EPS estimate has moved 9.01% lower. BYND is holding a Zacks Rank of #4 (Sell) right now.

Investors should also note BYND's current valuation metrics, including its Forward P/E ratio of 818.52. This represents a premium compared to its industry's average Forward P/E of 19.79.

The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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