To become vegetarian has many health benefits. However, it can also be a red flag to those trying to restrict their calorie intake by simply declaring they are vegetarian and cutting out calories by cutting out animal products.
As with any style of eating always make sure that all your nutrients are still being consumed. It is possible to receive enough protein (whole soy foods like edamame), vitamin B12 (fortified cereals), iron (pumpkin seeds), zinc (peanuts) and calcium (spinach) and not consume meat. Just make sure that you are consuming the foods that contain them.
Do your research and seek out a dietitian to help put your plan together. Especially if you are an active individual or an athlete.