Why Oppenheimer's Sidelined On Beyond Meat Ahead Of The Q2 Print
Why Oppenheimer's Sidelined On Beyond Meat Ahead Of The Q2 Print
Beyond Meat Inc (NASDAQ:BYND) is scheduled to report its second-quarter results on Tuesday, Aug. 4.
Although the company’s longer-term prospects are bright, the stock has appreciated by 66% year-to-date, versus the S&P 500’s flattish performance, according to Oppenheimer.
The Beyond Meat Analyst: Rupesh Parikh maintained a Neutral rating on Beyond Meat, citing valuation as the reason for remaining on the sidelines.
The Beyond Meat Thesis: Recent partnerships with leading chains like Starbucks Corporation (NASDAQ:SBUX), Yum! Brands, Inc. (NYSE:YUM) and Dunkin Brands Group Inc (NASDAQ:DNKN) have solidified Beyond Meat’s global growth potential, Parikh said in a Thursday note. (See his track record here.)
While these partnerships suggest “a strong longer-term runway for growth in foodservice,” the business is facing near-term headwinds, the analyst said.
"Breakfast-oriented customers" like Starbucks and Dunkin Brands — and the COVID-19 scenario — present challenges for food service growth in the near-term, he said.
“Investors appear to be looking past these concerns, making it harder to pinpoint true underlying expectations into the earnings report.”
Referring to the grocery business, Parikh said Beyond Meat has already demonstrated success with several retailers and “continues to gain distribution.”
Oppenheimer raised its Beyond Meat earnings estimates for the second quarter from a loss of 7 cents per share to a loss of 3 cents per share.
For 2020 as a whole, the firm raised its EPS expectations from a loss of 5 cents per share to a profit of 12 cents per share.
BYND Price Action: Shares of Beyond Meat were trading down by 2.35% at $123.70 at last check.
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Photo courtesy of Beyond Meat.
Beyond Meat Inc (NASDAQ:BYND) is scheduled to report its second-quarter results on Tuesday, Aug. 4.
超越肉類公司 （納斯達克：依德）預定於 8 月 4 日（週二）報告第二季度業績。
Although the company’s longer-term prospects are bright, the stock has appreciated by 66% year-to-date, versus the S&P 500’s flattish performance, according to Oppenheimer.
儘管該公司的長期前景光明，但該股票迄今為止已經升值了 66%，而 S&P 500 指出，歐本海默表現顯得平坦。
The Beyond Meat Analyst: Rupesh Parikh maintained a Neutral rating on Beyond Meat, citing valuation as the reason for remaining on the sidelines.
超越肉類分析師： 盧佩斯·帕里克 認為估值是剩餘在場邊的原因，對「超越肉類」維持中立評級。
The Beyond Meat Thesis: Recent partnerships with leading chains like Starbucks Corporation (NASDAQ:SBUX), Yum! Brands, Inc. (NYSE:YUM) and Dunkin Brands Group Inc (NASDAQ:DNKN) have solidified Beyond Meat’s global growth potential, Parikh said in a Thursday note. (See his track record here.)
While these partnerships suggest “a strong longer-term runway for growth in foodservice,” the business is facing near-term headwinds, the analyst said.
分析師表示，儘管這些合作夥伴關係表明「餐飲服務增長的強勁長期跑道」，但該業務正面臨短期的不利因素。
"Breakfast-oriented customers" like Starbucks and Dunkin Brands — and the COVID-19 scenario — present challenges for food service growth in the near-term, he said.
他說，星巴克和 Dunkin 品牌（Dunkin Brands）等「早餐導向的客戶」以及 COVID-19 場景-短期內為餐飲服務增長帶來了挑戰。
“Investors appear to be looking past these concerns, making it harder to pinpoint true underlying expectations into the earnings report.”
「投資者似乎正在尋找過這些擔憂，使得在盈利報告中查明真正的潛在預期變得更加困難。」
Referring to the grocery business, Parikh said Beyond Meat has already demonstrated success with several retailers and “continues to gain distribution.”
談到雜貨業務，Parikh 表示，Beyond 肉類已經證明了幾家零售商的成功，並且「繼續獲得分銷」。
Oppenheimer raised its Beyond Meat earnings estimates for the second quarter from a loss of 7 cents per share to a loss of 3 cents per share.
奧本海默將第二季度的超越肉類收益估計從每股虧損 7 美分提高到每股損失 3 美分。
For 2020 as a whole, the firm raised its EPS expectations from a loss of 5 cents per share to a profit of 12 cents per share.
整體而言，該公司將每股盈餘的預期從每股虧損 5 美分提高到每股 12 美分的利潤。
BYND Price Action: Shares of Beyond Meat were trading down by 2.35% at $123.70 at last check.
比恩德價格行動： 在上次檢查中，「超越肉類」的股價下跌了 2.35％，價格為 123.70 美元。
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相關連結：
Photo courtesy of Beyond Meat.
照片由超越肉類提供。
譯文內容由第三人軟體翻譯。
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