Beyond Meat to Post Q3 2020 Earnings of $0.15 Per Share, Jefferies Financial Group Forecasts (NASDAQ:BYND)

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Beyond Meat (NASDAQ:BYND) – Equities researchers at Jefferies Financial Group issued their Q3 2020 earnings estimates for Beyond Meat in a report issued on Wednesday, January 22nd. Jefferies Financial Group analyst K. Grundy forecasts that the company will earn $0.15 per share for the quarter. Jefferies Financial Group currently has a “Hold” rating and a $130.00 target price on the stock. Jefferies Financial Group also issued estimates for Beyond Meat’s FY2020 earnings at $0.35 EPS, Q1 2021 earnings at $0.03 EPS, Q2 2021 earnings at $0.16 EPS, Q3 2021 earnings at $0.23 EPS, Q4 2021 earnings at $0.13 EPS and FY2022 earnings at $0.80 EPS.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $91.96 million for the quarter, compared to analyst estimates of $83.35 million. Beyond Meat had a negative return on equity of 5.92% and a negative net margin of 8.42%. The company’s revenue was up 250.0% on a year-over-year basis.

A number of other brokerages have also issued reports on BYND. Goldman Sachs Group reissued a “neutral” rating and issued a $122.00 price target on shares of Beyond Meat in a research note on Tuesday, October 29th. BNP Paribas decreased their price target on Beyond Meat from $70.00 to $50.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 20th. Wells Fargo & Co decreased their price target on Beyond Meat from $125.00 to $100.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. They noted that the move was a valuation call. Oppenheimer assumed coverage on Beyond Meat in a research note on Monday, December 2nd. They issued a “market perform” rating on the stock. Finally, UBS Group assumed coverage on Beyond Meat in a research note on Friday, November 8th. They issued a “neutral” rating and a $85.00 price target on the stock. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $112.27.

BYND opened at $124.75 on Monday. The company has a quick ratio of 6.38, a current ratio of 7.46 and a debt-to-equity ratio of 0.06. Beyond Meat has a 52 week low of $45.00 and a 52 week high of $239.71. The business’s fifty day simple moving average is $89.61 and its 200 day simple moving average is $123.77.

In other news, insider Cari Soto sold 10,000 shares of Beyond Meat stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $79.95, for a total value of $799,500.00. Also, insider Charles Muth sold 4,046 shares of Beyond Meat stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.00, for a total value of $303,450.00. Following the completion of the transaction, the insider now directly owns 210,734 shares in the company, valued at $15,805,050. The disclosure for this sale can be found here. Insiders sold a total of 345,193 shares of company stock worth $27,980,893 over the last ninety days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BYND. Bank of New York Mellon Corp acquired a new position in shares of Beyond Meat in the 2nd quarter valued at about $3,535,000. Northern Trust Corp acquired a new position in shares of Beyond Meat in the 2nd quarter valued at about $7,742,000. Parametric Portfolio Associates LLC acquired a new position in shares of Beyond Meat in the 2nd quarter valued at about $841,000. US Bancorp DE acquired a new position in shares of Beyond Meat in the 2nd quarter valued at about $143,000. Finally, BlackRock Inc. acquired a new position in shares of Beyond Meat in the 2nd quarter valued at about $68,864,000. 10.56% of the stock is currently owned by institutional investors and hedge funds.

About Beyond Meat

Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.

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Earnings History and Estimates for Beyond Meat (NASDAQ:BYND)

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