Tyson Foods, Inc. (TSN) Expected to Post Quarterly Sales of $9.87 Billion
Wall Street analysts forecast that Tyson Foods, Inc. (NYSE:TSN) will post $9.87 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Tyson Foods’ earnings. The lowest sales estimate is $9.69 billion and the highest is $10.04 billion. Tyson Foods reported sales of $9.16 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.8%. The company is expected to report its next quarterly earnings report before the market opens on Monday, November 13th.
According to Zacks, analysts expect that Tyson Foods will report full year sales of $9.87 billion for the current year, with estimates ranging from $37.81 billion to $38.16 billion. For the next fiscal year, analysts forecast that the business will post sales of $40.08 billion per share, with estimates ranging from $39.33 billion to $40.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Tyson Foods.
Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.10. The business had revenue of $9.85 billion for 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%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS.
TSN has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $77.00 price objective (up from $70.00) on shares of Tyson Foods in a report on Friday, October 6th. Zacks Investment Research raised shares of Tyson Foods from a “hold” rating to a “strong-buy” rating and set a $82.00 price objective for the company in a report on Wednesday, October 4th. BidaskClub downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price objective on shares of Tyson Foods in a report on Thursday, July 27th. Finally, Credit Suisse Group initiated coverage on shares of Tyson Foods in a report on Wednesday, July 19th. They set a “neutral” rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.96.
Tyson Foods (NYSE:TSN) opened at 71.16 on Wednesday. Tyson Foods has a 12-month low of $55.72 and a 12-month high of $72.22. The company’s 50 day moving average is $68.33 and its 200 day moving average is $63.65. The firm has a market cap of $26.11 billion, a price-to-earnings ratio of 15.00 and a beta of 0.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Thursday, November 30th. Tyson Foods’s dividend payout ratio is 18.95%.
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In other news, CFO Dennis Leatherby sold 145,100 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $65.97, for a total value of $9,572,247.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mikel A. Durham acquired 2,809 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average price of $65.77 per share, with a total value of $184,747.93. The disclosure for this purchase can be found here. Corporate insiders own 2.65% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. TIAA FSB acquired a new position in shares of Tyson Foods in the 3rd quarter valued at $3,813,000. Xact Kapitalforvaltning AB raised its stake in shares of Tyson Foods by 8.1% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 58,334 shares of the company’s stock valued at $4,110,000 after buying an additional 4,390 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in shares of Tyson Foods in the 3rd quarter valued at $740,000. Mizuho Securities USA LLC acquired a new position in shares of Tyson Foods in the 3rd quarter valued at $1,057,000. Finally, Nationwide Fund Advisors raised its stake in shares of Tyson Foods by 1.1% in the 3rd quarter. Nationwide Fund Advisors now owns 371,341 shares of the company’s stock valued at $26,161,000 after buying an additional 4,031 shares in the last quarter. Institutional investors own 71.85% 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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