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Tyson Foods (TSN) Outpaces Stock Market Gains: What You Should Know
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Tyson Foods (TSN - Free Report) closed the most recent trading day at $59.32, moving +1.71% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.44%. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 5.21%.
Prior to today's trading, shares of the meat producer had lost 1.25% over the past month. This has lagged the Consumer Staples sector's gain of 2.41% and the S&P 500's gain of 2.28% in that time.
Investors will be hoping for strength from Tyson Foods as it approaches its next earnings release, which is expected to be May 8, 2023. On that day, Tyson Foods is projected to report earnings of $0.76 per share, which would represent a year-over-year decline of 66.81%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.51 billion, up 3.02% from the year-ago period.
TSN's full-year Zacks Consensus Estimates are calling for earnings of $4.15 per share and revenue of $54.76 billion. These results would represent year-over-year changes of -52.46% and +2.77%, respectively.
It is also important to note the recent changes to analyst estimates for Tyson Foods. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.23% lower. Tyson Foods is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Tyson Foods's current valuation metrics, including its Forward P/E ratio of 14.05. Its industry sports an average Forward P/E of 17.07, so we one might conclude that Tyson Foods is trading at a discount comparatively.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TSN in the coming trading sessions, be sure to utilize Zacks.com.
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Tyson Foods (TSN) Outpaces Stock Market Gains: What You Should Know
Tyson Foods (TSN - Free Report) closed the most recent trading day at $59.32, moving +1.71% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.44%. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 5.21%.
Prior to today's trading, shares of the meat producer had lost 1.25% over the past month. This has lagged the Consumer Staples sector's gain of 2.41% and the S&P 500's gain of 2.28% in that time.
Investors will be hoping for strength from Tyson Foods as it approaches its next earnings release, which is expected to be May 8, 2023. On that day, Tyson Foods is projected to report earnings of $0.76 per share, which would represent a year-over-year decline of 66.81%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.51 billion, up 3.02% from the year-ago period.
TSN's full-year Zacks Consensus Estimates are calling for earnings of $4.15 per share and revenue of $54.76 billion. These results would represent year-over-year changes of -52.46% and +2.77%, respectively.
It is also important to note the recent changes to analyst estimates for Tyson Foods. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.23% lower. Tyson Foods is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Tyson Foods's current valuation metrics, including its Forward P/E ratio of 14.05. Its industry sports an average Forward P/E of 17.07, so we one might conclude that Tyson Foods is trading at a discount comparatively.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TSN in the coming trading sessions, be sure to utilize Zacks.com.