BYND Stock – Beyond Meat (BYND) Stock Sinks As Market Gains: What You Should Know
Beyond Meat (BYND) closed at $177.97 in the latest trading session, marking a -0.06% move from the prior day. This move lagged the S&P 500’s daily gain of 1.61%. Meanwhile, the Dow gained 0.77%, and the Nasdaq, a tech-heavy index, added 2.55%.
Heading into today, shares of the plant-based meat company had gained 42.46% over the past month, outpacing the Consumer Staples sector’s loss of 4.8% and the S&P 500’s loss of 0.35% in that time.
Investors will be hoping for strength from BYND as it approaches its next earnings release. In that report, analysts expect BYND to post earnings of -$0.14 per share. This would mark a year-over-year decline of 1300%. Our most recent consensus estimate is calling for quarterly revenue of $104.48 million, up 6.09% from the year-ago period.
Investors might also notice recent changes to analyst estimates for BYND. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 46.85% lower. BYND is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 2112.81 right now. Its industry sports an average Forward P/E of 19.24, so we one might conclude that BYND is trading at a premium comparatively.
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 includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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