Why Tyson Foods (TSN) Dipped More Than Broader Market Today
The latest trading session saw Tyson Foods (TSN) ending at $59.79, denoting a -1.34% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.04%.
Coming into today, shares of the meat producer had lost 1.96% in the past month. In that same time, the Consumer Staples sector lost 2.37%, while the S&P 500 gained 3.77%.
Analysts and investors alike will be keeping a close eye on the performance of Tyson Foods in its upcoming earnings disclosure. The company's earnings report is set to go public on November 12, 2024. The company is forecasted to report an EPS of $0.64, showcasing a 72.97% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $13.33 billion, indicating a 0.17% downward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tyson Foods. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 14.21% downward. Tyson Foods currently has a Zacks Rank of #4 (Sell).
Looking at valuation, Tyson Foods is presently trading at a Forward P/E ratio of 18.59. This signifies no noticeable deviation in comparison to the average Forward P/E of 18.59 for its industry.
Investors should also note that TSN has a PEG ratio of 0.39 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TSN's industry had an average PEG ratio of 0.39 as of yesterday's close.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 210, finds itself in the bottom 17% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Tyson Foods, Inc. (TSN) : Free Stock Analysis Report