Tyson Foods (TSN) Registers a Bigger Fall Than the Market: Important Facts to Note
Tyson Foods (TSN) closed the most recent trading day at $54.61, moving -1.66% from the previous trading session. This move lagged the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 1.18%.
The the stock of meat producer has risen by 11.19% in the past month, leading the Consumer Staples sector's gain of 2.53% and the S&P 500's gain of 3.4%.
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 February 5, 2024. The company is forecasted to report an EPS of $0.38, showcasing a 55.29% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $13.3 billion, up 0.31% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.26 per share and revenue of $52.6 billion, indicating changes of +68.66% and -0.53%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Tyson Foods. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 remained stagnant within the past month. Tyson Foods is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Tyson Foods is currently trading at a Forward P/E ratio of 24.6. This denotes a premium relative to the industry's average Forward P/E of 20.61.
Meanwhile, TSN's PEG ratio is currently 0.53. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TSN's industry had an average PEG ratio of 2.46 as of yesterday's close.
The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 223, positioning it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Tyson Foods, Inc. (TSN) : Free Stock Analysis Report
