Tyson Foods (TSN) Stock Moves -1.18%: What You Should Know
In the latest trading session, Tyson Foods (TSN) closed at $51.16, marking a -1.18% move from the previous day. This change was narrower than the S&P 500's 1.47% loss on the day. At the same time, the Dow lost 1.27%, and the tech-heavy Nasdaq lost 1.5%.
Shares of the meat producer witnessed a gain of 7.9% over the previous month, beating the performance of the Consumer Staples sector with its gain of 3.52% and the S&P 500's gain of 5.77%.
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. In that report, analysts expect Tyson Foods to post earnings of $0.38 per share. This would mark a year-over-year decline of 55.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $13.3 billion, indicating a 0.31% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.26 per share and a revenue of $52.6 billion, demonstrating changes of +68.66% and -0.53%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tyson Foods. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 last 30 days, the Zacks Consensus EPS estimate has moved 5.37% higher. At present, Tyson Foods boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Tyson Foods currently has a Forward P/E ratio of 22.93. This signifies a premium in comparison to the average Forward P/E of 19.94 for its industry.
We can additionally observe that TSN currently boasts a PEG ratio of 0.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Food - Meat Products industry had an average PEG ratio of 2.37.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% 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.
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, Inc. (TSN) : Free Stock Analysis Report
