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Tyson Foods (TSN) Stock Sinks As Market Gains: Here's Why
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The latest trading session saw Tyson Foods (TSN - Free Report) ending at $54.66, denoting a -0.6% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.76%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 1.12%.
Coming into today, shares of the meat producer had gained 2.31% in the past month. In that same time, the Consumer Staples sector gained 4.52%, while the S&P 500 gained 2.5%.
Market participants will be closely following the financial results of Tyson Foods in its upcoming release. The company plans to announce its earnings on February 5, 2024. On that day, Tyson Foods is projected to report earnings of $0.38 per share, which would represent a year-over-year decline of 55.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.3 billion, up 0.31% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.26 per share and a revenue of $52.6 billion, indicating changes of +68.66% and -0.53%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Tyson Foods. These revisions help to show the ever-changing nature of 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Tyson Foods is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Tyson Foods is presently trading at a Forward P/E ratio of 24.36. This represents a premium compared to its industry's average Forward P/E of 19.7.
Meanwhile, TSN's PEG ratio is currently 0.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Food - Meat Products industry stood at 2.36 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 192, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 (TSN) Stock Sinks As Market Gains: Here's Why
The latest trading session saw Tyson Foods (TSN - Free Report) ending at $54.66, denoting a -0.6% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.76%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 1.12%.
Coming into today, shares of the meat producer had gained 2.31% in the past month. In that same time, the Consumer Staples sector gained 4.52%, while the S&P 500 gained 2.5%.
Market participants will be closely following the financial results of Tyson Foods in its upcoming release. The company plans to announce its earnings on February 5, 2024. On that day, Tyson Foods is projected to report earnings of $0.38 per share, which would represent a year-over-year decline of 55.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.3 billion, up 0.31% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.26 per share and a revenue of $52.6 billion, indicating changes of +68.66% and -0.53%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Tyson Foods. These revisions help to show the ever-changing nature of 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Tyson Foods is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Tyson Foods is presently trading at a Forward P/E ratio of 24.36. This represents a premium compared to its industry's average Forward P/E of 19.7.
Meanwhile, TSN's PEG ratio is currently 0.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Food - Meat Products industry stood at 2.36 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 192, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.