Yahoo Finance Tyson Foods (TSN) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Tyson Foods (TSN) standing at $56.90, reflecting a -0.4% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.16%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.49%.
Shares of the meat producer have depreciated by 1.13% over the course of the past month, underperforming the Consumer Staples sector's loss of 0.93% and the S&P 500's gain of 3.22%.
Market participants will be closely following the financial results of Tyson Foods in its upcoming release. The company plans to announce its earnings on August 5, 2024. The company is expected to report EPS of $0.60, up 300% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $13.17 billion, indicating a 0.2% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.58 per share and a revenue of $52.89 billion, representing changes of +92.54% and +0.03%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tyson Foods. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.68% rise in the Zacks Consensus EPS estimate. At present, Tyson Foods boasts a Zacks Rank of #3 (Hold).
Investors should also note Tyson Foods's current valuation metrics, including its Forward P/E ratio of 22.17. This denotes a premium relative to the industry's average Forward P/E of 19.04.
We can also see that TSN currently has a PEG ratio of 0.41. 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. The Food - Meat Products industry currently had an average PEG ratio of 0.41 as of yesterday's close.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons 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.
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
