Beyond Meat (NASDAQ:BYND) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Beyond Meat (NASDAQ:BYND) posted its earnings results on Wednesday. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.05), RTT News reports. The business had revenue of $75.60 million during the quarter, compared to analysts’ expectations of $75.24 million. During the same quarter in the previous year, the company posted ($0.92) EPS. The company’s quarterly revenue was down 18.0% on a year-over-year basis.

Beyond Meat Stock Down 0.8 %

BYND traded down $0.07 during midday trading on Wednesday, hitting $8.21. 4,067,999 shares of the company were exchanged, compared to its average volume of 3,152,372. The firm has a market capitalization of $531.02 million, a P/E ratio of -1.57 and a beta of 2.42. The firm’s 50 day moving average price is $7.67 and its 200-day moving average price is $7.58. Beyond Meat has a 1-year low of $5.58 and a 1-year high of $19.25.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Mizuho cut their price target on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets increased their price target on 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, TD Cowen lowered their price target on Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.83.

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.