Tyson Foods, Inc. (TSN) Issues Earnings Results, Beats Estimates By $0.10 EPS
Tyson Foods, Inc. (NYSE:TSN) issued its earnings results on Monday. The company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.10, Bloomberg Earnings reports. Tyson Foods had a return on equity of 18.55% and a net margin of 4.91%. The firm had revenue of $9.85 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Tyson Foods updated its FY17 guidance to $4.95-5.05 EPS.
Tyson Foods (NYSE:TSN) traded up 5.69% on Monday, hitting $66.90. The company had a trading volume of 7,091,692 shares. The stock has a market cap of $24.55 billion, a P/E ratio of 13.98 and a beta of 0.26. The firm’s 50 day moving average price is $61.67 and its 200 day moving average price is $62.03. Tyson Foods has a 12-month low of $55.72 and a 12-month high of $77.05.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, August 30th. Tyson Foods’s dividend payout ratio (DPR) is 18.79%.
A number of institutional investors have recently bought and sold shares of the company. IFP Advisors Inc increased its position in shares of Tyson Foods by 9.4% in the first quarter. IFP Advisors Inc now owns 2,111 shares of the company’s stock worth $130,000 after buying an additional 182 shares during the last quarter. Washington Trust Bank boosted its stake in Tyson Foods by 60.0% in the second quarter. Washington Trust Bank now owns 2,240 shares of the company’s stock worth $140,000 after buying an additional 840 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Tyson Foods by 146.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,282 shares of the company’s stock worth $143,000 after buying an additional 1,357 shares during the period. IHT Wealth Management LLC boosted its stake in Tyson Foods by 62.9% in the first quarter. IHT Wealth Management LLC now owns 2,850 shares of the company’s stock worth $177,000 after buying an additional 1,100 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in Tyson Foods during the first quarter worth approximately $196,000. 71.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the company. BMO Capital Markets reiterated a “buy” rating and issued a $75.00 target price on shares of Tyson Foods in a report on Thursday, June 15th. BidaskClub upgraded Tyson Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded Tyson Foods from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Thursday, July 13th. Mizuho assumed coverage on Tyson Foods in a report on Wednesday, June 7th. They issued a “buy” rating and a $71.00 target price on the stock. Finally, Barclays PLC assumed coverage on Tyson Foods in a report on Tuesday, June 6th. They issued an “overweight” rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $67.96.
About Tyson Foods
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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