Beyond Meat (BYND) to Release Quarterly Earnings on Wednesday

Beyond Meat (NASDAQ:BYND) is set to post its quarterly earnings results 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 that wish to register for the company’s conference call can do so using this link.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The firm had revenue of $73.68 million for the quarter, compared to the consensus estimate of $66.66 million. During the same quarter last year, the company posted ($1.05) earnings per share. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. 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 Stock Performance

BYND opened at $6.78 on Wednesday. The company has a fifty day simple moving average of $7.65 and a 200 day simple moving average of $7.58. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

Analyst Upgrades and Downgrades

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