Jefferies Financial Group Comments on Beyond Meat, Inc.’s FY2022 Earnings (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYNDGet Rating) – Research analysts at Jefferies Financial Group decreased their FY2022 earnings per share estimates for shares of Beyond Meat in a note issued to investors on Thursday, January 12th. Jefferies Financial Group analyst R. Dickerson now forecasts that the company will post earnings per share of ($5.85) for the year, down from their prior estimate of ($5.07). The consensus estimate for Beyond Meat’s current full-year earnings is ($5.87) per share. Jefferies Financial Group also issued estimates for Beyond Meat’s Q4 2022 earnings at ($1.14) EPS, Q1 2023 earnings at ($1.07) EPS, Q2 2023 earnings at ($1.00) EPS, Q3 2023 earnings at ($1.02) EPS, Q4 2023 earnings at ($0.89) EPS, FY2023 earnings at ($3.98) EPS, Q1 2024 earnings at ($0.92) EPS, Q2 2024 earnings at ($0.83) EPS, Q3 2024 earnings at ($0.86) EPS, Q4 2024 earnings at ($0.81) EPS and FY2024 earnings at ($3.42) EPS.

Beyond Meat (NASDAQ:BYNDGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.49). The business had revenue of $82.50 million for the quarter, compared to the consensus estimate of $84.56 million. Beyond Meat had a negative net margin of 86.35% and a negative return on equity of 400.17%. The company’s revenue for the quarter was down 22.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.87) earnings per share.

Several other equities analysts have also recently issued reports on the company. Piper Sandler decreased their price objective on Beyond Meat from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, September 21st. Mizuho reduced their price target on shares of Beyond Meat from $27.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, November 10th. Canaccord Genuity Group cut their price target on shares of Beyond Meat from $22.00 to $15.00 and set a “hold” rating for the company in a report on Wednesday, October 12th. Citigroup increased their price objective on shares of Beyond Meat from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, October 17th. Finally, Barclays cut shares of Beyond Meat from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $13.00 to $10.00 in a research note on Monday, November 28th. Six equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, Beyond Meat currently has a consensus rating of “Hold” and a consensus price target of $20.19.

Beyond Meat Stock Down 3.6 %

Shares of NASDAQ BYND opened at $15.93 on Monday. Beyond Meat has a twelve month low of $11.03 and a twelve month high of $70.91. The business has a fifty day simple moving average of $13.74 and a two-hundred day simple moving average of $20.30. The firm has a market cap of $1.02 billion, a PE ratio of -2.66 and a beta of 1.98.

Institutional Trading of Beyond Meat

Large investors have recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in Beyond Meat by 48.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock worth $42,000 after acquiring an additional 571 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Beyond Meat by 4,288.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,975 shares of the company’s stock valued at $47,000 after acquiring an additional 1,930 shares during the period. Kessler Investment Group LLC bought a new stake in shares of Beyond Meat during the 3rd quarter valued at $64,000. MUFG Securities EMEA plc bought a new stake in shares of Beyond Meat during the 1st quarter valued at $75,000. Finally, Federated Hermes Inc. bought a new position in Beyond Meat in the 2nd quarter worth $106,000. 41.12% of the stock is owned by institutional investors.

Insider Activity

In other Beyond Meat news, insider Dariush Ajami sold 27,690 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $14.65, for a total transaction of $405,658.50. Following the sale, the insider now owns 78,774 shares in the company, valued at $1,154,039.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Dariush Ajami sold 27,690 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $14.65, for a total value of $405,658.50. Following the sale, the insider now directly owns 78,774 shares of the company’s stock, valued at $1,154,039.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Beth Moskowitz sold 2,000 shares of the firm’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $14.05, for a total value of $28,100.00. Following the completion of the sale, the insider now directly owns 20,208 shares in the company, valued at $283,922.40. The disclosure for this sale can be found here. Insiders sold a total of 51,810 shares of company stock valued at $742,210 over the last three months. Corporate insiders own 7.90% of the company’s stock.

About Beyond Meat

(Get Rating)

Beyond Meat, Inc engages in the provision of plant-based meats. Its products include ready-to-cook meat under The Beyond Burger and Beyond Sausage brands, and frozen meat, namely, Beyond Chicken Strips and Beyond Beef Crumbles. The company was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.

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Earnings History and Estimates for Beyond Meat (NASDAQ:BYND)

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