FY2024 EPS Estimates for Beyond Meat Raised by William Blair

Beyond Meat, Inc. (NASDAQ:BYND - Free Report) - Equities researchers at William Blair boosted their FY2024 EPS estimates for shares of Beyond Meat in a report issued on Wednesday, November 6th. William Blair analyst J. Andersen now expects that the company will earn ($2.07) per share for the year, up from their prior estimate of ($2.09). The consensus estimate for Beyond Meat's current full-year earnings is ($2.04) per share. William Blair also issued estimates for Beyond Meat's Q4 2024 earnings at ($0.41) EPS and FY2025 earnings at ($1.65) EPS.

Other analysts also recently issued reports about the company. BMO Capital Markets dropped their price objective on shares of Beyond Meat from $9.00 to $6.00 and set a "market perform" rating for the company in a research note on Thursday, August 8th. Mizuho lowered their price target on shares of Beyond Meat from $6.00 to $5.00 and set an "underperform" rating for the company in a report on Monday, August 26th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $5.42.

Beyond Meat Price Performance

Shares of BYND traded down $0.11 during mid-day trading on Monday, reaching $5.26. 3,778,917 shares of the company's stock were exchanged, compared to its average volume of 2,939,333. Beyond Meat has a 52-week low of $5.10 and a 52-week high of $12.12. The business's fifty day simple moving average is $6.35 and its 200-day simple moving average is $6.61. The stock has a market capitalization of $342.10 million, a PE ratio of -1.26 and a beta of 2.28.

Beyond Meat (NASDAQ:BYND - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.03. The business had revenue of $81.01 million during the quarter, compared to analyst estimates of $80.13 million. During the same period last year, the company earned ($1.09) EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc boosted its position in shares of Beyond Meat by 7.8% in the second quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company's stock worth $245,000 after buying an additional 2,650 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Beyond Meat by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,104 shares of the company's stock valued at $275,000 after acquiring an additional 2,790 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Beyond Meat by 17.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company's stock worth $178,000 after purchasing an additional 3,902 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Beyond Meat by 30.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,061 shares of the company's stock worth $183,000 after purchasing an additional 5,140 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Beyond Meat in the 2nd quarter valued at approximately $41,000. Institutional investors 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.