FY2024 EPS Estimates for Beyond Meat Raised by William Blair

Beyond Meat, Inc. (NASDAQ:BYND) – Investment analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for shares of Beyond Meat in a research report issued on Wednesday, November 6th. William Blair analyst J. Andersen now anticipates that the company will post earnings of ($2.07) per share for the year, up from their prior forecast 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.

A number of other research analysts have also recently issued reports on BYND. BMO Capital Markets lowered their price objective on 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 dropped their target price on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a report on Monday, August 26th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $5.42.

Beyond Meat Stock Down 4.2 %

BYND opened at $5.05 on Monday. Beyond Meat has a 52 week low of $5.00 and a 52 week high of $12.12. The stock has a market cap of $328.45 million, a PE ratio of -1.21 and a beta of 2.28. The business has a 50 day moving average of $6.33 and a 200-day moving average of $6.60.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The business had revenue of $81.01 million during the quarter, compared to the consensus estimate of $80.13 million. During the same quarter in the prior year, the business posted ($1.09) earnings per share. Beyond Meat’s quarterly revenue was up 7.6% compared to the same quarter last year.

Hedge Funds Weigh In On Beyond Meat

Several hedge funds have recently modified their holdings of BYND. Canada Pension Plan Investment Board acquired a new position in Beyond Meat in the 2nd quarter worth about $41,000. ProShare Advisors LLC purchased a new position in Beyond Meat in the 1st quarter worth approximately $88,000. Intech Investment Management LLC acquired a new position in shares of Beyond Meat during the 3rd quarter worth approximately $128,000. EntryPoint Capital LLC increased its holdings in shares of Beyond Meat by 77.1% in the first quarter. EntryPoint Capital LLC now owns 17,685 shares of the company’s stock valued at $146,000 after purchasing an additional 7,699 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in shares of Beyond Meat during the 1st quarter worth approximately $157,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

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.