Tyson Foods (TSN) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Tyson Foods (TSN) closed at $68, marking a -0.51% move from the previous day. This change lagged the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the meat producer had gained 2.44% over the past month, lagging the Consumer Staples sector's gain of 8.11% and the S&P 500's gain of 8.12% in that time.
Wall Street will be looking for positivity from Tyson Foods as it approaches its next earnings report date. This is expected to be November 14, 2022. In that report, analysts expect Tyson Foods to post earnings of $1.70 per share. This would mark a year-over-year decline of 26.09%. Our most recent consensus estimate is calling for quarterly revenue of $13.29 billion, up 3.73% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Tyson Foods. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 4.92% lower within the past month. Tyson Foods currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Tyson Foods has a Forward P/E ratio of 9.71 right now. This valuation marks a premium compared to its industry's average Forward P/E of 8.67.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 18% 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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