Tyson Foods (NYSE:TSN) Releases Earnings Results, Beats Estimates By $0.22 EPS

Tyson Foods (NYSE:TSN) issued its earnings results on Monday. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.22, Briefing.com reports. The company had revenue of $13.35 billion during the quarter, compared to the consensus estimate of $13.21 billion. Tyson Foods had a negative net margin of 1.16% and a positive return on equity of 3.53%. Tyson Foods’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. Tyson Foods updated its FY 2024 guidance to EPS.

Tyson Foods Stock Down 1.6 %

Shares of NYSE:TSN opened at $61.54 on Wednesday. The firm has a market capitalization of $21.97 billion, a PE ratio of -34.57, a price-to-earnings-growth ratio of 0.46 and a beta of 0.74. The business has a 50 day simple moving average of $57.69 and a two-hundred day simple moving average of $57.29. Tyson Foods has a 1 year low of $44.94 and a 1 year high of $63.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.77 and a quick ratio of 0.87.

Tyson Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, August 30th. This represents a $1.96 annualized dividend and a yield of 3.18%. Tyson Foods’s payout ratio is -110.11%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com upgraded Tyson Foods from a “hold” rating to a “buy” rating in a research report on Tuesday. BMO Capital Markets increased their price objective on shares of Tyson Foods from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Tyson Foods from $61.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday. Piper Sandler raised their target price on shares of Tyson Foods from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Bank of America decreased their price target on shares of Tyson Foods from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.00.

Tyson Foods Company Profile

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.