Beyond Meat (BYND) to Release Quarterly Earnings on Wednesday

Beyond Meat (NASDAQ:BYND) will be releasing its earnings data after the market closes on Wednesday, May 8th. Analysts expect Beyond Meat to post earnings of ($0.71) per share for the quarter. Beyond Meat has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Beyond Meat (NASDAQ:BYND) last released its earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The business had revenue of $73.68 million for the quarter, compared to the consensus estimate of $66.66 million. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted ($1.05) EPS. On average, analysts expect Beyond Meat to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Beyond Meat Price Performance

Shares of NASDAQ BYND opened at $8.23 on Tuesday. The company has a market cap of $532.32 million, a PE ratio of -1.57 and a beta of 2.42. The company has a 50-day simple moving average of $7.65 and a 200-day simple moving average of $7.57. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

Analysts Set New Price Targets

Several research firms recently weighed in on BYND. TD Cowen reduced their target price on Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research report on Wednesday, April 17th. Argus raised shares of Beyond Meat from a “sell” rating to a “hold” rating in a research report on Thursday, February 29th. BMO Capital Markets boosted their target price on shares of Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Finally, Mizuho cut their price target on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Beyond Meat has a consensus rating of “Reduce” and an average price target of $5.83.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.