In the latest trading session, Tyson Foods (TSN) closed at $47.43, marking a -1.54% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.18% for the day. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
The meat producer’s shares have seen a decrease of 6.16% over the last month, surpassing the Consumer Staples sector’s loss of 7.26% and falling behind the S&P 500’s loss of 5.17%.
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 November 13, 2023. The company’s upcoming EPS is projected at $0.32, signifying an 80.37% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $13.71 billion, showing a 0.23% drop compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tyson Foods. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Tyson Foods is carrying a Zacks Rank of #3 (Hold).
Investors should also note Tyson Foods’s current valuation metrics, including its Forward P/E ratio of 15.38. This valuation marks a discount compared to its industry’s average Forward P/E of 19.05.
The Food – Meat Products industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 105, this industry ranks in the top 42% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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