FY2017 EPS Estimates for Tyson Foods, Inc. (TSN) Lifted by Jefferies Group
Tyson Foods, Inc. (NYSE:TSN) – Equities researchers at Jefferies Group boosted their FY2017 earnings estimates for shares of Tyson Foods in a research note issued to investors on Tuesday. Jefferies Group analyst A. Jagdale now anticipates that the company will post earnings per share of $5.21 for the year, up from their previous forecast of $5.08. Jefferies Group currently has a “Buy” rating and a $82.00 price objective on the stock. Jefferies Group also issued estimates for Tyson Foods’ Q4 2017 earnings at $1.33 EPS, FY2018 earnings at $5.76 EPS and FY2021 earnings at $7.11 EPS.
Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.10. The company had revenue of $9.85 billion during the quarter, compared to analyst estimates of $9.49 billion. Tyson Foods had a net margin of 4.75% and a return on equity of 18.44%. Tyson Foods’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share.
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A number of other research analysts have also recently issued reports on the company. Zacks Investment Research lowered Tyson Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, August 28th. J P Morgan Chase & Co boosted their price target on Tyson Foods from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, June 26th. BMO Capital Markets restated a “buy” rating and issued a $75.00 price target on shares of Tyson Foods in a report on Thursday, June 15th. Credit Suisse Group assumed coverage on Tyson Foods in a report on Wednesday, July 19th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, BidaskClub upgraded Tyson Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Tyson Foods has an average rating of “Buy” and a consensus price target of $72.38.
Shares of Tyson Foods (NYSE TSN) opened at 71.64 on Thursday. The firm has a market cap of $26.28 billion, a PE ratio of 15.10 and a beta of 0.28. Tyson Foods has a one year low of $55.72 and a one year high of $74.65. The company has a 50-day moving average of $65.72 and a 200 day moving average of $62.76.
Several hedge funds have recently modified their holdings of the business. Financial Counselors Inc. boosted its holdings in shares of Tyson Foods by 0.3% in the 2nd quarter. Financial Counselors Inc. now owns 4,799 shares of the company’s stock valued at $301,000 after purchasing an additional 15 shares in the last quarter. CrestPoint Capital Management LLC lifted its stake in shares of Tyson Foods by 0.5% in the 2nd quarter. CrestPoint Capital Management LLC now owns 21,100 shares of the company’s stock valued at $1,321,000 after acquiring an additional 100 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Tyson Foods by 0.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 30,905 shares of the company’s stock valued at $1,907,000 after acquiring an additional 146 shares during the last quarter. Montecito Bank & Trust lifted its stake in shares of Tyson Foods by 3.7% in the 2nd quarter. Montecito Bank & Trust now owns 4,160 shares of the company’s stock valued at $260,000 after acquiring an additional 147 shares during the last quarter. Finally, Lumbard & Kellner LLC lifted its stake in shares of Tyson Foods by 0.4% in the 2nd quarter. Lumbard & Kellner LLC now owns 39,875 shares of the company’s stock valued at $2,497,000 after acquiring an additional 150 shares during the last quarter. 71.89% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Dennis Leatherby sold 145,100 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $65.97, for a total transaction of $9,572,247.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mikel A. Durham purchased 2,809 shares of Tyson Foods stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average cost of $65.77 per share, for a total transaction of $184,747.93. The disclosure for this purchase can be found here. 2.65% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, November 30th. Tyson Foods’s payout ratio is 18.95%.
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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