Tyson Foods (TSN) Stock Sinks As Market Gains: What You Should Know
Tyson Foods (TSN) closed at $65.13 in the latest trading session, marking a -0.94% move from the prior day. This move lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Prior to today's trading, shares of the meat producer had gained 3.38% over the past month. This has outpaced the Consumer Staples sector's loss of 0.34% and lagged the S&P 500's gain of 6.27% in that time.
Tyson Foods will be looking to display strength as it nears its next earnings release, which is expected to be February 6, 2023. On that day, Tyson Foods is projected to report earnings of $1.44 per share, which would represent a year-over-year decline of 49.83%. Our most recent consensus estimate is calling for quarterly revenue of $13.1 billion, up 1.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.21 per share and revenue of $54.08 billion, which would represent changes of -28.87% and +1.5%, respectively, from the prior year.
Any recent changes to analyst estimates for Tyson Foods should also be noted by investors. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.33% lower. Tyson Foods is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Tyson Foods currently has a Forward P/E ratio of 10.59. This represents a discount compared to its industry's average Forward P/E of 11.81.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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
To read this article on Zacks.com click here.