Citigroup Inc. Downgrades Tyson Foods to Hold (TSN)
Tyson Foods (NYSE:TSN) was downgraded by equities researchers at Citigroup Inc. from a “buy” rating to a “hold” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Shares of Tyson Foods (NYSE:TSN) opened at 40.90 on Friday. Tyson Foods has a 1-year low of $24.74 and a 1-year high of $44.24. The stock’s 50-day moving average is $41.19 and its 200-day moving average is $37.93. The company has a market cap of $14.250 billion and a P/E ratio of 15.36. Tyson Foods also saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 11,398,805 shares, a growth of 36.1% from the April 30th total of 8,376,068 shares. Based on an average daily trading volume, of 3,814,815 shares, the days-to-cover ratio is presently 3.0 days. Currently, 4.2% of the shares of the stock are short sold.
Tyson Foods (NYSE:TSN) last released its earnings data on Monday, May 5th. The company reported $0.60 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.63 by $0.03. The company had revenue of $9.03 billion for the quarter, compared to the consensus estimate of $8.85 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts expect that Tyson Foods will post $2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, August 27th.
Several other analysts have also recently commented on the stock. Analysts at BB&T Corp. downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a research note on Friday. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Tyson Foods from $45.00 to $42.00 in a research note on Tuesday, May 6th. They now have a “neutral” rating on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Tyson Foods from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 29th. They now have a $43.00 price target on the stock. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $41.43.
In other Tyson Foods news, EVP Ken Kimbro sold 2,488 shares of Tyson Foods stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $41.54, for a total transaction of $103,351.52. The transaction was disclosed in a filing with the SEC, which is available at this link.
Tyson Foods, Inc and its subsidiaries is a meat protein companies and food production company. The Company produces, distributes and markets chicken, beefs, pork, prepared foods and related allied products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.