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

Tyson Foods (NYSE:TSN) released its quarterly earnings data on Monday. The company reported $0.62 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 business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $13.16 billion. During the same period in the previous year, the firm earned ($0.04) EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Tyson Foods updated its FY 2024 guidance to EPS.

Tyson Foods Price Performance

TSN opened at $58.89 on Wednesday. Tyson Foods has a 1 year low of $44.94 and a 1 year high of $62.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 1.49. The company’s 50 day simple moving average is $57.89 and its 200 day simple moving average is $53.62. The stock has a market capitalization of $20.99 billion, a PE ratio of -23.84, a P/E/G ratio of 0.49 and a beta of 0.74.

Tyson Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, May 31st. This represents a $1.96 annualized dividend and a dividend yield of 3.33%. Tyson Foods’s payout ratio is currently -79.35%.

Analyst Ratings Changes

Several analysts have issued reports on TSN shares. JPMorgan Chase & Co. upped their price target on shares of Tyson Foods from $58.00 to $59.00 in a report on Monday. HSBC increased their target price on Tyson Foods from $48.00 to $51.00 and gave the company a “reduce” rating in a report on Tuesday. Piper Sandler upped their price objective on Tyson Foods from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group lifted 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. Finally, Bank of America upgraded shares of Tyson Foods from an “underperform” rating to a “neutral” rating and upped their target price for the company from $47.00 to $62.00 in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Tyson Foods has a consensus rating of “Hold” and an average target price of $60.60.

Insiders Place Their Bets

In related news, Director Noel W. White sold 9,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $53.75, for a total value of $483,750.00. Following the transaction, the director now directly 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 is available at this link. 2.05% of the stock is currently owned by 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.