Beyond Meat (BYND) Scheduled to Post Earnings on Wednesday

Beyond Meat (NASDAQ:BYND) is scheduled to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce 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 are interested in registering for the company’s conference call can do so using this link.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The company had revenue of $73.68 million for the quarter, compared to the consensus estimate of $66.66 million. The company’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($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 Stock Performance

BYND stock opened at $8.23 on Monday. Beyond Meat has a 1 year low of $5.58 and a 1 year high of $19.25. The stock’s fifty day moving average price is $7.64 and its 200-day moving average price is $7.56.

Wall Street Analyst Weigh In

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