Tyson Foods, Inc. (TSN) Expected to Post Quarterly Sales of $9.89 Billion
Wall Street brokerages expect that Tyson Foods, Inc. (NYSE:TSN) will report sales of $9.89 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tyson Foods’ earnings, with the lowest sales estimate coming in at $9.69 billion and the highest estimate coming in at $10.08 billion. Tyson Foods posted sales of $9.16 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The firm is scheduled to report its next quarterly earnings results on Monday, November 20th.
According to Zacks, analysts expect that Tyson Foods will report full year sales of $9.89 billion for the current year, with estimates ranging from $37.81 billion to $38.20 billion. For the next year, analysts forecast that the firm will report sales of $39.69 billion per share, with estimates ranging from $38.39 billion to $40.98 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Tyson Foods.
Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, August 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Tyson Foods had a net margin of 4.75% and a return on equity of 18.44%. The business had revenue of $9.85 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Tyson Foods from a “strong-buy” rating to a “hold” rating in a report on Monday. BidaskClub downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday. Fundamental Research reaffirmed a “buy” rating on shares of Tyson Foods in a report on Thursday, August 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $78.00 price objective (up from $75.00) on shares of Tyson Foods in a report on Thursday, August 10th. Finally, Mizuho reaffirmed a “buy” rating and set a $76.00 price objective (up from $71.00) on shares of Tyson Foods in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $69.79.
Shares of Tyson Foods (NYSE:TSN) opened at 62.18 on Wednesday. The company has a market cap of $22.81 billion, a PE ratio of 13.11 and a beta of 0.26. The firm’s 50-day moving average is $63.14 and its 200-day moving average is $62.28. Tyson Foods has a one year low of $55.72 and a one year high of $77.05.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, November 30th. Tyson Foods’s payout ratio is currently 18.95%.
In other news, Director Mikel A. Durham acquired 2,809 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $65.77 per share, for a total transaction of $184,747.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dennis Leatherby sold 145,100 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $65.97, for a total transaction of $9,572,247.00. The disclosure for this sale can be found here. 2.65% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Tyson Foods by 2,404.6% in the first quarter. BlackRock Inc. now owns 19,055,591 shares of the company’s stock worth $1,175,919,000 after buying an additional 18,294,771 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Tyson Foods by 6,356.6% in the second quarter. Janus Henderson Group PLC now owns 2,478,942 shares of the company’s stock worth $155,256,000 after buying an additional 2,440,548 shares in the last quarter. FMR LLC boosted its stake in shares of Tyson Foods by 155.4% in the second quarter. FMR LLC now owns 2,010,522 shares of the company’s stock worth $125,920,000 after buying an additional 1,223,351 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Tyson Foods during the first quarter worth $73,273,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Tyson Foods by 2,655.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,216,095 shares of the company’s stock worth $75,045,000 after buying an additional 1,171,956 shares in the last quarter. Institutional investors and hedge funds own 70.83% of the company’s stock.
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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