Beyond Meat (BYND, $121.82) reports unexpected loss for Q3
Maker of plant-based meat substitute Beyond Meat Inc. reported a surprise third quarter loss on coronavirus pandemic effect.
Beyond Meat’s adjusted loss for the three months ending in September came in at -28 cents per share, vs. the Street forecast of a +5 cents per share profit. It reported a positive earnings of +6 cents per share profit in the year-ago quarter.
Revenue increased +2.7% year-over-year to $94.4 billion, but was below short analysts' forecasts of $132.8 million .
"We experienced the full brunt and unpredictability of COVID-19's impact for the first time in Q3, producing net revenues of $94 million, a sequential drop from record net revenues of $113 million in Q2," founder and CEO Ethan Brown told investors late Monday.
BYND's Stochastic Oscillator sits in oversold zone for 4 days
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Notable companies
The most notable companies in this group are Mondelez International (NASDAQ:MDLZ), Kraft Heinz Company (The) (NASDAQ:KHC), General Mills (NYSE:GIS), Campbell Soup Company (NYSE:CPB), Beyond Meat (NASDAQ:BYND).
Industry description
A specialty/candy manufacturer specializes in one or more of the following: chocolate, candies, pasta, condiments, seasonings, among other items. Hershey Company, McCormick & Company and J.M. Smucker Company are some of the major firms in this segment. Demand for this industry’s products comes from both institutions/restaurants as well as households.
Market Cap
The average market capitalization across the Food: Specialty/Candy Industry is 8.85B. The market cap for tickers in the group ranges from 6.25K to 327.81B. NSRGY holds the highest valuation in this group at 327.81B. The lowest valued company is OGGFF at 6.25K.
High and low price notable news
The average weekly price growth across all stocks in the Food: Specialty/Candy Industry was 0%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was 13%. NUZE experienced the highest price growth at 167%, while SRKE experienced the biggest fall at -56%.
Volume
The average weekly volume growth across all stocks in the Food: Specialty/Candy Industry was 30%. For the same stocks of the Industry, the average monthly volume growth was 23% and the average quarterly volume growth was 19%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 51
P/E Growth Rating: 61
Price Growth Rating: 59
SMR Rating: 76
Profit Risk Rating: 80
Seasonality Score: 10 (-100 ... +100)