Beyond Meat Inc BYND will be reporting its third-quarter earnings on Nov. 8 after the markets close.
Beyond Meat specializes in producing plant-based meat substitutes. The company’s products are designed to provide a sustainable and environmentally-friendly alternative to traditional meat products. However, the stock is down about 50% over the past year and the company’s financial position is challenging.
Here's what analysts will be focusing on, and how the stock currently maps against Wall Street estimates.
Business & Fundamentals: Beyond Meat’s cash burn rate is high and increasing, and revenue is on the decline. The company has $1.14 billion in convertible notes maturing in 2027, and is exploring strategies to manage this financial commitment with its current resources.
Beyond Meat has the option to pursue additional capital raising efforts to meet its financial obligations, a common practice that could impact existing equity values.
The stock’s high short interest of over 40% is also a sign of investor pessimism.
Ratings & Consensus Estimates: Analysts are expecting the company to report a negative 89 cents in EPS and $85.37 million in revenue.
Recent price targets for the stock range between $3 and $5 with analysts giving BYND a consensus Underperform rating according to Benzinga’s analyst ratings data.
Price Action: Shares of Beyond Meat were down 5.7% to $6.57 at the time of publication Wednesday.
Read Next: Barclays Maintains Underweight on Beyond Meat, Lowers Price Target to $5
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