Beyond Meat (NASDAQ:BYND - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.05), RTT News reports. The firm had revenue of $75.60 million during the quarter, compared to analyst estimates of $75.24 million. The company's revenue for the quarter was down 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.92) earnings per share. Beyond Meat updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.
Beyond Meat Trading Down 0.8 %
Shares of Beyond Meat stock traded down $0.07 on Wednesday, hitting $8.21. The stock had a trading volume of 4,357,172 shares, compared to its average volume of 3,154,483. The company's 50 day moving average price is $7.64 and its 200 day moving average price is $7.58. The stock has a market cap of $531.02 million, a price-to-earnings ratio of -1.57 and a beta of 2.42. Beyond Meat has a 52-week low of $5.58 and a 52-week high of $19.25.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Mizuho decreased their price objective 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. TD Cowen decreased their price target on shares of Beyond Meat from $10.00 to $6.00 and set a "sell" rating for the company in a research note on Wednesday, April 17th. BMO Capital Markets increased their price objective on shares of Beyond Meat from $7.00 to $10.00 and gave the company a "market perform" rating in a research report on Wednesday, February 28th. Finally, Argus raised shares of Beyond Meat from a "sell" rating to a "hold" rating in a research report on Thursday, February 29th. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $5.83.
Read Our Latest Research Report on BYND
Beyond Meat Company Profile
(
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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.
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