Zacks Reiterates Neutral Rating for Tyson Foods (TSN)
Tyson Foods (NYSE:TSN)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Thursday. They currently have a $40.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 4.71% from the stock’s previous close.
Zacks’ analyst wrote, “Tyson Foods has delivered mixed results for third-quarter fiscal 2014 as adjusted earnings of $0.75 per share missed the Zacks Consensus Estimate by 9.6% in spite of increasing 8.7% year over year. Sales were however better increasing 11.0% year over year as well as beating the Zacks Consensus Estimate by 4.3%. Overall, we are encouraged by Tyson’s initiatives to improve the business segments. We believe the company can meet its long-term target to maintain business momentum and achieve double-digit earnings growth backed by strong focus on its value added products. However the company expressed concerns regarding the dearth of domestic availability of chicken and pork in the near future. Moreover, Tyson fears the supply constraint will restrict the company fro meeting the growing demand of protein in international market. Again, livestock diseases, higher input prices and constrained consumer discretionary environment due to ongoing macroeconomic challenges are matters of concern. “
A number of other analysts have also recently weighed in on TSN. Analysts at Miller Tabak upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at BMO Capital Markets raised their price target on shares of Tyson Foods from $43.00 to $50.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Tyson Foods from $35.00 to $38.00 in a research note on Tuesday. They now have an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $43.88.
Shares of Tyson Foods (NYSE:TSN) traded down 1.68% during mid-day trading on Thursday, hitting $37.56. The stock had a trading volume of 18,961,300 shares. Tyson Foods has a 52-week low of $27.08 and a 52-week high of $44.24. The stock has a 50-day moving average of $37.92 and a 200-day moving average of $39.28. The company has a market cap of $14.113 billion and a P/E ratio of 13.90.
Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, July 28th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by $0.03. The company had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.47 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts predict that Tyson Foods will post $2.82 earnings per share for the current fiscal year.
Tyson Foods, Inc is a food production company. The Company produces, distributes and markets chicken, beef, pork, prepared foods and related allied products.
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