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Tyson Foods (TSN) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Tyson Foods (TSN - Free Report) closed at $58.58, marking a +0.74% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.58%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq decreased by 1.15%.
Shares of the meat producer have appreciated by 1.71% over the course of the past month, outperforming the Consumer Staples sector's loss of 4.32% and the S&P 500's loss of 1.09%.
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 May 6, 2024. On that day, Tyson Foods is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 975%. Alongside, our most recent consensus estimate is anticipating revenue of $13.08 billion, indicating a 0.41% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.33 per share and revenue of $52.76 billion, which would represent changes of +73.88% and -0.23%, respectively, from the prior year.
Investors should also take note of any recent adjustments 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.96% lower within the past month. Right now, Tyson Foods possesses a Zacks Rank of #3 (Hold).
Investors should also note Tyson Foods's current valuation metrics, including its Forward P/E ratio of 24.96. Its industry sports an average Forward P/E of 21.29, so one might conclude that Tyson Foods is trading at a premium comparatively.
It is also worth noting that TSN currently has a PEG ratio of 0.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Food - Meat Products stocks are, on average, holding a PEG ratio of 0.46 based on yesterday's closing prices.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Tyson Foods (TSN) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Tyson Foods (TSN - Free Report) closed at $58.58, marking a +0.74% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.58%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq decreased by 1.15%.
Shares of the meat producer have appreciated by 1.71% over the course of the past month, outperforming the Consumer Staples sector's loss of 4.32% and the S&P 500's loss of 1.09%.
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 May 6, 2024. On that day, Tyson Foods is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 975%. Alongside, our most recent consensus estimate is anticipating revenue of $13.08 billion, indicating a 0.41% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.33 per share and revenue of $52.76 billion, which would represent changes of +73.88% and -0.23%, respectively, from the prior year.
Investors should also take note of any recent adjustments 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.96% lower within the past month. Right now, Tyson Foods possesses a Zacks Rank of #3 (Hold).
Investors should also note Tyson Foods's current valuation metrics, including its Forward P/E ratio of 24.96. Its industry sports an average Forward P/E of 21.29, so one might conclude that Tyson Foods is trading at a premium comparatively.
It is also worth noting that TSN currently has a PEG ratio of 0.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Food - Meat Products stocks are, on average, holding a PEG ratio of 0.46 based on yesterday's closing prices.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.