FY2024 EPS Estimates for Beyond Meat Lifted by William Blair

Beyond Meat, Inc. (NASDAQ:BYND) – William Blair lifted their FY2024 earnings per share (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 post earnings per share of ($2.07) for the year, up from their previous 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.

BYND has been the topic of a number of other reports. BMO Capital Markets dropped their price target on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Mizuho decreased their target price on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a report on Monday, August 26th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $5.42.

Beyond Meat Price Performance

BYND stock opened at $5.37 on Monday. The company has a market cap of $349.25 million, a P/E ratio of -1.28 and a beta of 2.28. Beyond Meat has a 1 year low of $5.13 and a 1 year high of $12.12. The stock’s fifty day moving average price is $6.35 and its 200-day moving average price is $6.61.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The firm had revenue of $81.01 million during the quarter, compared to analysts’ expectations of $80.13 million. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned ($1.09) earnings per share.

Institutional Investors Weigh In On Beyond Meat

A number of institutional investors and hedge funds have recently bought and sold shares of BYND. Canada Pension Plan Investment Board bought a new stake in Beyond Meat during the second quarter valued at about $41,000. ProShare Advisors LLC bought a new stake in Beyond Meat during the first quarter valued at about $88,000. Intech Investment Management LLC bought a new stake in Beyond Meat during the third quarter valued at about $128,000. EntryPoint Capital LLC raised its holdings in Beyond Meat by 77.1% during the first quarter. EntryPoint Capital LLC now owns 17,685 shares of the company’s stock valued at $146,000 after acquiring an additional 7,699 shares during the period. Finally, Farallon Capital Management LLC purchased a new position in shares of Beyond Meat during the first quarter valued at about $157,000. 52.48% of the stock is owned by institutional investors.

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.