Tyson Foods, Inc. (TSN) Updates FY14 Earnings Guidance
Tyson Foods, Inc. (NYSE:TSN) issued an update on its FY14 earnings guidance on Thursday morning. The company provided earnings per share guidance of at least $2.78 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.82, Analyst Ratings Network reports.
Shares of Tyson Foods, Inc. (NYSE:TSN) traded up 0.25% during mid-day trading on Thursday, hitting $37.885. The stock had a trading volume of 507,270 shares. Tyson Foods, Inc. has a 52-week low of $27.33 and a 52-week high of $44.24. The stock’s 50-day moving average is $37.99 and its 200-day moving average is $39.59. The company has a market cap of $13.324 billion and a price-to-earnings ratio of 13.75. Tyson Foods also was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 21,759,546 shares, an increase of 42.0% from the July 31st total of 15,327,200 shares. Based on an average daily trading volume, of 4,979,107 shares, the days-to-cover ratio is currently 4.4 days. Currently, 7.9% of the shares of the stock are sold short.
Tyson Foods (NYSE:TSN) last released its earnings data on Monday, July 28th. The company reported $0.75 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts expect that Tyson Foods, Inc. will post $2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, November 26th.
A number of research firms have recently commented on TSN. Analysts at BB&T Corp. upgraded shares of Tyson Foods from a hold rating to a buy rating in a research note on Friday, August 8th. They now have a $45.00 price target on the stock. They noted that the move was a valuation call. On a related note, analysts at Zacks reiterated a neutral rating on shares of Tyson Foods in a research note on Thursday, July 31st. They now have a $40.00 price target on the stock. Finally, analysts at Miller Tabak upgraded shares of Tyson Foods from a hold rating to a buy rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $44.50.
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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