U.S. consumers hankering for one of Beyond Meat Inc's faux-meat burgers can...
SAN FRANCISCO - U.S. consumers hankering for one of Beyond Meat Inc’s faux-meat burgers can pick one up at the grocery store for about $3 a patty.That is a fraction of what they are going for on Wall Street, where investors looking to get a serving of the food producer’s sizzling stock appear to be laying down the equivalent of more than $50 a burger.
With ground beef retailing in grocery stores for the equivalent of $1 or less per 4-ounce burger patty, according to the U.S. Department of Agriculture, Beyond Meat’s early success in grocery store meat sections shows a market exists for premium-priced burger products made with or without animal. Preferred valuation measures like the price to earnings ratio are not useful because Beyond Meat is losing money and is unlikely to record a profit for at least another year or so.
Analysts on average expect Beyond Meat’s revenue to surge 152% this year to $221 million, according to Refinitiv. Conservatively assuming no price increases, it would be on track to sell 153 million patties in 2019, making its current stock market value equivalent to $57 per 4-ounce patty sold in 2019.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shake Shack CEO: 'We have no intention' of adding Beyond Meat to menu right nowShake Shack is not going to be adding Beyond Meat’s plant-based burger to its menu anytime soon, the company's CEO said last week.
Read more »
Monday was a terrible day for 2019 tech IPOs, with Zoom and Beyond Meat plummetingTech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.
Read more »
Alternative meat isn't a fad, but consumer adoption will slow, says Morningstar restaurant analystR.J. Hottovy, Morningstar consumer equity strategist and senior restaurant and retail analyst, joins 'Squawk Box' to discuss Beyond Meat and the growing alternative meat industry.
Read more »
China to stop all imports of 'meat products' from Canada on Wednesday: media reportChina will turn away any 'meat products' shipped from Canada starting ...
Read more »
Plant-Based Meat May Be A Restaurant Craze, But Taco Bell Says It's Holding OutTaco Bell is sticking with its vegetarian push, but keeping an eye on faux meat.
Read more »