Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Beyond Meat stock tumbles 17% as analysts worry about the company’s long-term growth

by
November 11, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

General Mills and Micron Raised Their Dividends. Banks Should Be Lifting Theirs Soon, Too.

Who Is Still Buying Russian Oil And Gas?

A package of Beyond Meat beef crumbles is displayed for a photograph in Tiskilwa, Illinois, April 23, 2019.

Daniel Acker | Bloomberg | Getty Images

Beyond Meat’s stock cratered 17% in morning trading Thursday as Wall Street voiced doubts over the company’s growth prospects.

The plant-based meat maker reported disappointing third-quarter results after the bell on Wednesday. Its loss was wider than expected, while revenue fell short of expectations, even after a warning from the company last month. Beyond also issued a gloomy outlook that indicated sales wouldn’t snap back immediately.

Jefferies called it “the quarter that likely broke the camel’s back.” Bernstein analyst Alexia Howard downgraded the stock, telling investors to not buy the dip.

“We view the results as further evidence that Beyond’s business is reaching market saturation faster than expected and that the company has deeper problems that won’t be easy to fix,” Credit Suisse analyst Robert Moskow wrote in a note.

Beyond blamed a number of factors for its weak quarter, including severe weather, the delta variant and restaurants’ labor challenges. CEO Ethan Brown told investors that the problems were largely short term.

However, analysts are more skeptical. J.P. Morgan’s Ken Goldman quoted Maple Leaf Foods CEO Michael McCain, who told investors last week that the company is seeing a “marked slowdown” in the plant-based protein category, which could suggest a shift from the high growth rates expected by the industry.

“We are not yet sure who is right – Beyond Meat or Maple Leaf Foods – but when we hear commentary like this, it’s hard to be completely confident about the future of the category,” Goldman wrote.

Brown also said Wednesday evening that he’s optimistic about 2022. But the company hasn’t convinced analysts that’s true. Bank of America Securities analyst Bryan Spillane wrote in a note that next year’s results will depend heavily on the launch of McDonald’s McPlant burger and its partnerships with other national chains, like Yum Brands’ Pizza Hut. McDonald’s is currently conducting an operational test of the McPlant in a handful of U.S. restaurants and has begun selling the burger in a few international markets.

Spillane also said an area of concern is that U.S. trial and demand of meat alternatives has slowed, particularly in grocery stores.

Jefferies analyst Rob Dickerson predicted the stock will likely remain under pressure until there is a better understanding of plant-based meat’s long-term development, consumption rates and the competitive landscape. Including Thursday’s tumble, shares of Beyond have slid 38% this year, giving it a market value of $4.88 billion.

ShareTweetPin

Related Posts

General Mills and Micron Raised Their Dividends. Banks Should Be Lifting Theirs Soon, Too.

by
July 3, 2022
0

Text size Justin Sullivan/Getty Images General Mills and Micron Technology declared dividend increases this week, and various large banks announced...

Who Is Still Buying Russian Oil And Gas?

by
July 3, 2022
0

Reuters Video shows Ohio officers killed unarmed Black man in hail of bullets AKRON, Ohio (Reuters) -Video released on Sunday...

Will mortgage rates hit 7% in near future? Here’s what the chief economist of the National Association of Realtors says about that

by
July 3, 2022
0

Will mortgage rates rise? Getty Images/iStockphoto Mortgage rates have been on a steady climb upwards: While they started the year...

Recession Measures and NBER

by
July 3, 2022
0

by Calculated Risk on 7/03/2022 03:18:00 PM On Business Cycle Dating from NBER: The NBER's definition emphasizes that a recession...

Altria’s Dividend Yield Spiked After Juul Ban. The Payout Looks Secure.

by
July 3, 2022
0

The FDA's bid to ban Juul products—like these at a shop in El Segundo, Calif., on a recent day—has weighed...

Next Post

Shares of EV start-up Rivian spike on second day of trading, market cap surpasses GM

GM Defense plans to produce military vehicle based on Hummer EV in 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net