Tyson Foods (TSN) Exceeds Market Returns: Some Facts to Consider
Tyson Foods (TSN) closed the latest trading day at $60.96, indicating a +0.54% change from the previous session's end. This change outpaced the S&P 500's 0.32% gain on the day. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.35%.
Shares of the meat producer have appreciated by 3.24% over the course of the past month, outperforming the Consumer Staples sector's loss of 0.5% and the S&P 500's loss of 2%.
Market participants will be closely following the financial results of Tyson Foods in its upcoming release. The company plans to announce its earnings on May 6, 2024. In that report, analysts expect Tyson Foods to post earnings of $0.35 per share. This would mark 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 annual period, the Zacks Consensus Estimates anticipate earnings of $2.33 per share and a revenue of $52.76 billion, signifying shifts of +73.88% and -0.23%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Tyson Foods. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.96% lower. Right now, Tyson Foods possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Tyson Foods is holding a Forward P/E ratio of 26.02. This represents a premium compared to its industry's average Forward P/E of 22.24.
Investors should also note that TSN has a PEG ratio of 0.48 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Food - Meat Products industry stood at 0.48 at the close of the market yesterday.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 21, putting it in the top 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tyson Foods, Inc. (TSN) : Free Stock Analysis Report
