Tyson Foods (NYSE:TSN) Issues Quarterly Earnings Results

Tyson Foods (NYSE:TSNGet Rating) released its earnings results on Monday. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.07), Briefing.com reports. Tyson Foods had a net margin of 7.75% and a return on equity of 18.42%. The company had revenue of $13.74 billion during the quarter, compared to analyst estimates of $13.49 billion. During the same period in the previous year, the company posted $2.30 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Tyson Foods updated its FY 2023 guidance to EPS.

Tyson Foods Stock Performance

Tyson Foods stock traded down $0.15 during midday trading on Monday, reaching $67.26. The stock had a trading volume of 79,813 shares, compared to its average volume of 2,316,438. The firm has a market capitalization of $24.19 billion, a PE ratio of 6.06 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $68.34 and its 200 day moving average price is $79.21. Tyson Foods has a 12 month low of $62.94 and a 12 month high of $100.72.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSN shares. Argus downgraded Tyson Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. The Goldman Sachs Group cut their price objective on Tyson Foods from $111.00 to $97.00 and set a “buy” rating for the company in a research report on Monday, November 7th. Stephens dropped their price target on Tyson Foods from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, August 9th. Barclays lowered their price objective on Tyson Foods from $100.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 9th. Finally, Bank of America lowered Tyson Foods from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $73.00 to $61.00 in a research note on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $88.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Cantor Fitzgerald Investment Advisor L.P grew its position in shares of Tyson Foods by 94.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 317,286 shares of the company’s stock valued at $28,439,000 after purchasing an additional 154,507 shares in the last quarter. Markel Corp grew its position in shares of Tyson Foods by 2.1% during the 1st quarter. Markel Corp now owns 384,500 shares of the company’s stock valued at $34,463,000 after purchasing an additional 8,000 shares in the last quarter. Aviva PLC grew its position in shares of Tyson Foods by 25.5% during the 1st quarter. Aviva PLC now owns 121,466 shares of the company’s stock valued at $10,887,000 after purchasing an additional 24,669 shares in the last quarter. Prudential PLC purchased a new position in shares of Tyson Foods during the 1st quarter valued at $747,000. Finally, Vanguard Group Inc. grew its position in Tyson Foods by 6.4% in the first quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock worth $3,332,404,000 after acquiring an additional 2,239,235 shares in the last quarter. 68.55% of the stock is currently owned by hedge funds and other institutional investors.

About Tyson Foods

(Get Rating)

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and live market hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products; and supplies poultry breeding stock; sells specialty products, such as hides and meats.

Featured Articles

Earnings History for Tyson Foods (NYSE:TSN)

Receive News & Ratings for Tyson Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyson Foods and related companies with MarketBeat.com's FREE daily email newsletter.