The company’s latest data on shares outstanding shows there are 64.00 million shares. (NASDAQ:BYND), historical trading data shows that trading volumes averaged 3.11 million over the past 10 days and 2.01 million over the past 3 months. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.62% and 0.50% respectively in the last trading. Data shows BYND’s intraday price has changed 19.70% in last session and -48.04% over the past year. (BYND) and its peers suggest the former has performed considerably stronger. In the market, a comparison of Beyond Meat Inc. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category. Turning to the stock’s technical picture we see that short term indicators suggest on average that BYND is a 50% Sell. Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Wall Street analysts have also projected the company’s year-on-year revenue for 2023 to grow to $388.83 million, representing a -7.20% decline on that reported in the last financial year. The average forecast suggests down to a -24.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Per the data, EPS growth is expected to be 43.30% for 2023 and 22.40% for the next financial year.Īnalysts have a consensus estimate of $111.53 million for the company’s revenue for the quarter, with a low and high estimate of $104 million and $131.38 million respectively. Analysts project the company’s earnings per share (EPS) to be -$0.86, which has seen fiscal year 2023 EPS growth forecast to increase to -$3.26 and about -$2.53 for fiscal year 2024. Here are five of the best ways to profit from the AI boom.īeyond Meat Inc.’s market cap currently stands at around $791.48 million, with investors looking forward to this quarter’s earnings report slated for – Aug 07, 2023. And investors like you always want to get in on the hottest stocks of tomorrow. And it's about to change everything we know about everything.Īccording to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. The two international divisions generally contribute roughly equal revenue for Beyond.The artificial intelligence (AI) revolution is already here. Outside the U.S., grocery sales fell 17%, while restaurant sales increased 7%. Prior to the pandemic, restaurants accounted for more than half of its sales, but the business has struggled to bounce back. grocery sales rose 2.2% in the quarter, offsetting a 2.4% decline of its restaurant business. Moreover, its meatless Beyond Jerky, made through a joint venture with PepsiCo, weighed on profit margins for the second consecutive quarter. The company said it spent more on ingredients and manufacturing this quarter. However, the company will also spend roughly $1 million in separation costs that will impact its third-quarter results.įor the second quarter, Beyond Meat reported a net loss of $97.1 million, or $1.53 per share, wider than the net loss of $19.7 million, or 31 cents per share, a year earlier. grocery business and in Europe and the Middle East.Īs part of a push to spend less of its cash, Beyond said it will lay off about 4% of its global workforce, which is expected to save about $8 million on an annual basis. The company said inflation, rising interest rates and growing concerns about a recession were among the factors that drove the revised outlook.īeyond executives specifically pointed to weaker sales for Beyond Jerky, its broader U.S. With consumers pressured by inflation, Brown said Beyond customers are switching to cheaper private label meat alternatives or back to traditional meat.įor 2022, Beyond now expects revenue of $470 million to $520 million, down from its prior forecast of $560 million to $620 million. "We recognize progress is taking longer than we expected," CEO Ethan Brown said in a statement, referring to the company's push into mass market consumption with plant-based products that mimic meat.īeyond's meat substitutes are typically more expensive than traditional meat, but the company is seeking to achieve price parity in the near future. The company attributed the decline to changes in foreign exchange rates, increased discounts and sales to liquidation channels. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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