Q2 2024 EPS Estimates for Beyond Meat, Inc. Lowered by Analyst (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) – Equities research analysts at William Blair lowered their Q2 2024 earnings estimates for Beyond Meat in a report released on Wednesday, May 8th. William Blair analyst J. Andersen now expects that the company will post earnings per share of ($0.49) for the quarter, down from their previous estimate of ($0.47). The consensus estimate for Beyond Meat’s current full-year earnings is ($2.13) per share. William Blair also issued estimates for Beyond Meat’s FY2024 earnings at ($2.19) EPS and FY2025 earnings at ($1.68) EPS.

A number of other equities analysts have also recently weighed in on BYND. TD Cowen decreased their price objective on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, April 17th. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Mizuho reduced their target price on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a research note on Monday, April 22nd. Canaccord Genuity Group dropped their price target on shares of Beyond Meat from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Friday. Finally, The Goldman Sachs Group decreased their price objective on shares of Beyond Meat from $4.00 to $3.50 and set a “sell” rating for the company in a report on Thursday. Six analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, Beyond Meat currently has a consensus rating of “Reduce” and an average price target of $5.56.

Beyond Meat Stock Up 1.8 %

BYND opened at $7.16 on Monday. The firm has a market capitalization of $463.11 million, a P/E ratio of -1.39 and a beta of 2.42. The firm’s 50 day moving average is $7.51 and its 200-day moving average is $7.59. Beyond Meat has a 52-week low of $5.58 and a 52-week high of $19.25.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The company had revenue of $75.60 million for the quarter, compared to analyst estimates of $75.24 million. During the same quarter last year, the firm earned ($0.92) EPS. The company’s quarterly revenue was down 18.0% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BYND. Vanguard Group Inc. increased its stake in shares of Beyond Meat by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock worth $44,313,000 after purchasing an additional 155,653 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Beyond Meat during the 1st quarter worth $902,000. Arbor Capital Management Inc. ADV acquired a new position in shares of Beyond Meat during the 4th quarter worth $752,000. SG Americas Securities LLC increased its stake in shares of Beyond Meat by 312.6% during the 1st quarter. SG Americas Securities LLC now owns 102,947 shares of the company’s stock worth $852,000 after purchasing an additional 77,996 shares during the last quarter. Finally, Cowen AND Company LLC acquired a new position in shares of Beyond Meat during the 4th quarter worth $623,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Company Profile

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.