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Tyson Foods (TSN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Tyson Foods (TSN - Free Report) closed the most recent trading day at $46.52, moving -1.25% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.5% for the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
Heading into today, shares of the meat producer had lost 12.7% over the past month, lagging the Consumer Staples sector's loss of 6.27% and the S&P 500's loss of 2.4% in that time.
Market participants will be closely following the financial results of Tyson Foods in its upcoming release. The company plans to announce its earnings on November 13, 2023. The company's upcoming EPS is projected at $0.32, signifying an 80.37% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $13.71 billion, down 0.23% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Tyson Foods. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Tyson Foods is carrying a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Tyson Foods currently has a Forward P/E ratio of 15.04. This represents a discount compared to its industry's average Forward P/E of 19.08.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 234, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Tyson Foods (TSN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Tyson Foods (TSN - Free Report) closed the most recent trading day at $46.52, moving -1.25% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.5% for the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
Heading into today, shares of the meat producer had lost 12.7% over the past month, lagging the Consumer Staples sector's loss of 6.27% and the S&P 500's loss of 2.4% in that time.
Market participants will be closely following the financial results of Tyson Foods in its upcoming release. The company plans to announce its earnings on November 13, 2023. The company's upcoming EPS is projected at $0.32, signifying an 80.37% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $13.71 billion, down 0.23% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Tyson Foods. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Tyson Foods is carrying a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Tyson Foods currently has a Forward P/E ratio of 15.04. This represents a discount compared to its industry's average Forward P/E of 19.08.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 234, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.