Tyson Foods (NYSE:TSN) Issues Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Tyson Foods (NYSE:TSN) issued its quarterly earnings results on Monday. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $13.16 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. Tyson Foods updated its FY 2024 guidance to EPS.

Tyson Foods Price Performance

Shares of TSN opened at $58.50 on Tuesday. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of -23.68, a price-to-earnings-growth ratio of 0.49 and a beta of 0.74. Tyson Foods has a fifty-two week low of $44.94 and a fifty-two week high of $62.04. The firm has a 50-day simple moving average of $57.80 and a 200-day simple moving average of $53.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 1.49.

Tyson Foods Announces Dividend

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

Insiders Place Their Bets

In other news, Director Noel W. White sold 9,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $53.75, for a total value of $483,750.00. Following the completion of the sale, the director now owns 31,115 shares in the company, valued at approximately $1,672,431.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Tyson Foods from $58.00 to $59.00 in a research note on Monday. The Goldman Sachs Group upped their price objective on Tyson Foods from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. BMO Capital Markets raised their target price on Tyson Foods from $52.00 to $55.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. Barclays raised Tyson Foods from an “underweight” rating to an “overweight” rating and upped their price target for the company from $53.00 to $69.00 in a report on Tuesday, April 16th. Finally, Citigroup raised their price objective on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Tyson Foods has a consensus rating of “Hold” and an average price target of $59.20.

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.