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Tyson Foods (TSN) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Tyson Foods (TSN - Free Report) closed at $60.91, marking a -0.15% move from the previous day. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 4.87%.
Coming into today, shares of the meat producer had gained 6.91% in the past month. In that same time, the Consumer Staples sector gained 5.33%, while the S&P 500 gained 3.31%.
Wall Street will be looking for positivity from Tyson Foods as it approaches its next earnings report date. This is expected to be May 8, 2023. The company is expected to report EPS of $0.78, down 65.94% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.63 billion, up 3.94% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.18 per share and revenue of $55.1 billion. These totals would mark changes of -52.12% and +3.42%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Tyson Foods. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.63% higher. Tyson Foods is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Tyson Foods has a Forward P/E ratio of 14.61 right now. This valuation marks a discount compared to its industry's average Forward P/E of 17.31.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Tyson Foods (TSN - Free Report) closed at $60.91, marking a -0.15% move from the previous day. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 4.87%.
Coming into today, shares of the meat producer had gained 6.91% in the past month. In that same time, the Consumer Staples sector gained 5.33%, while the S&P 500 gained 3.31%.
Wall Street will be looking for positivity from Tyson Foods as it approaches its next earnings report date. This is expected to be May 8, 2023. The company is expected to report EPS of $0.78, down 65.94% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.63 billion, up 3.94% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.18 per share and revenue of $55.1 billion. These totals would mark changes of -52.12% and +3.42%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Tyson Foods. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.63% higher. Tyson Foods is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Tyson Foods has a Forward P/E ratio of 14.61 right now. This valuation marks a discount compared to its industry's average Forward P/E of 17.31.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.