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Why Tyson Foods (TSN) Outpaced the Stock Market Today
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The most recent trading session ended with Tyson Foods (TSN - Free Report) standing at $46.72, reflecting a +0.3% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.9%.
The meat producer's stock has dropped by 1.36% in the past month, falling short of the Consumer Staples sector's gain of 3.73% and the S&P 500's gain of 1.45%.
Investors will be eagerly watching for the performance of Tyson Foods in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 13, 2023. The company is predicted to post an EPS of $0.33, indicating a 79.75% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $13.71 billion, indicating a 0.23% decline compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Tyson Foods should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.52% downward. Tyson Foods is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Tyson Foods's current valuation metrics, including its Forward P/E ratio of 15.1. For comparison, its industry has an average Forward P/E of 19.33, which means Tyson Foods is trading at a discount to the group.
The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 51, placing it within the top 21% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why Tyson Foods (TSN) Outpaced the Stock Market Today
The most recent trading session ended with Tyson Foods (TSN - Free Report) standing at $46.72, reflecting a +0.3% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.9%.
The meat producer's stock has dropped by 1.36% in the past month, falling short of the Consumer Staples sector's gain of 3.73% and the S&P 500's gain of 1.45%.
Investors will be eagerly watching for the performance of Tyson Foods in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 13, 2023. The company is predicted to post an EPS of $0.33, indicating a 79.75% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $13.71 billion, indicating a 0.23% decline compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Tyson Foods should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.52% downward. Tyson Foods is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Tyson Foods's current valuation metrics, including its Forward P/E ratio of 15.1. For comparison, its industry has an average Forward P/E of 19.33, which means Tyson Foods is trading at a discount to the group.
The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 51, placing it within the top 21% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.