Tyson Foods (NYSE:TSN) Issues Earnings Results

Tyson Foods (NYSE:TSN) issued its quarterly earnings results on Monday. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.23, RTT News reports. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $13.16 billion. During the same period last year, the business earned ($0.04) EPS. Tyson Foods’s quarterly revenue was down .5% compared to the same quarter last year. Tyson Foods updated its FY 2024 guidance to EPS.

Tyson Foods Stock Performance

Shares of NYSE TSN opened at $58.50 on Tuesday. The stock has a market cap of $20.85 billion, a PE ratio of -23.68, a price-to-earnings-growth ratio of 0.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 0.67. The firm has a fifty day moving average price of $57.80 and a 200-day moving average price of $53.53. Tyson Foods has a 1 year low of $44.94 and a 1 year high of $62.04.

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, May 31st. Tyson Foods’s payout ratio is -79.35%.

Analysts Set New Price Targets

Several equities research analysts have commented on TSN shares. BMO Capital Markets boosted their target price on Tyson Foods from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Tuesday, February 6th. Citigroup upped their target price on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Barclays raised Tyson Foods from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $53.00 to $69.00 in a research report on Tuesday, April 16th. Stephens reaffirmed an “overweight” rating and set a $70.00 price objective on shares of Tyson Foods in a research report on Tuesday, February 6th. Finally, Piper Sandler upped their target price on shares of Tyson Foods from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.20.

Insiders Place Their Bets

In related news, Director Noel W. White sold 9,000 shares of Tyson Foods stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $53.75, for a total transaction of $483,750.00. Following the sale, the director now owns 31,115 shares of the company’s stock, valued at approximately $1,672,431.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.05% of the stock is currently owned by company insiders.

About Tyson Foods

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.