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Why the Market Dipped But Tyson Foods (TSN) Gained Today
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In the latest market close, Tyson Foods (TSN - Free Report) reached $45.92, with a +1.21% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 1.18%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.76%.
Shares of the meat producer witnessed a loss of 9.46% over the previous month, trailing the performance of the Consumer Staples sector with its loss of 1.87% and the S&P 500's loss of 3.35%.
The investment community will be paying close attention to the earnings performance of Tyson Foods in its upcoming release. The company is slated to reveal its earnings on November 13, 2023. The company is forecasted to report an EPS of $0.33, showcasing a 79.75% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.71 billion, down 0.23% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Tyson Foods. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 1.28% lower within the past month. Tyson Foods is currently sporting a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Tyson Foods is currently being traded at a Forward P/E ratio of 14.67. Its industry sports an average Forward P/E of 18.58, so 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 group has a Zacks Industry Rank of 197, putting it in the bottom 22% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why the Market Dipped But Tyson Foods (TSN) Gained Today
In the latest market close, Tyson Foods (TSN - Free Report) reached $45.92, with a +1.21% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 1.18%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.76%.
Shares of the meat producer witnessed a loss of 9.46% over the previous month, trailing the performance of the Consumer Staples sector with its loss of 1.87% and the S&P 500's loss of 3.35%.
The investment community will be paying close attention to the earnings performance of Tyson Foods in its upcoming release. The company is slated to reveal its earnings on November 13, 2023. The company is forecasted to report an EPS of $0.33, showcasing a 79.75% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.71 billion, down 0.23% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Tyson Foods. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 1.28% lower within the past month. Tyson Foods is currently sporting a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Tyson Foods is currently being traded at a Forward P/E ratio of 14.67. Its industry sports an average Forward P/E of 18.58, so 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 group has a Zacks Industry Rank of 197, putting it in the bottom 22% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.