Tyson Foods Inc. (TSN) Announces Quarterly Earnings Results, Misses Expectations By $0.20 EPS
Tyson Foods Inc. (NYSE:TSN) announced its quarterly earnings results on Monday. The company reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by $0.20. Tyson Foods had a return on equity of 17.29% and a net margin of 4.28%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter last year, the company posted $0.83 EPS. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. Tyson Foods updated its FY17 guidance to $4.70-4.85 EPS.
Shares of Tyson Foods (NYSE:TSN) opened at 58.96 on Wednesday. The company’s 50-day moving average price is $69.28 and its 200-day moving average price is $69.75. The stock has a market cap of $22.53 billion, a PE ratio of 14.34 and a beta of 0.18. Tyson Foods has a one year low of $48.52 and a one year high of $77.05.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be issued a dividend of $0.225 per share. This is a boost from Tyson Foods’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.90 dividend on an annualized basis and a yield of 1.53%. Tyson Foods’s dividend payout ratio is 14.53%.
In other news, insider Donnie King sold 146,641 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $75.75, for a total value of $11,108,055.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Noel W. White sold 74,934 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $75.44, for a total value of $5,653,020.96. The disclosure for this sale can be found here. 2.69% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Tyson Foods during the third quarter valued at $140,000. ETRADE Capital Management LLC acquired a new position in Tyson Foods during the third quarter valued at $207,000. Piedmont Investment Advisors LLC acquired a new position in Tyson Foods during the third quarter valued at $6,041,000. Quantitative Systematic Strategies LLC acquired a new position in Tyson Foods during the third quarter valued at $2,272,000. Finally, LPL Financial LLC boosted its position in Tyson Foods by 6.3% in the third quarter. LPL Financial LLC now owns 36,187 shares of the company’s stock valued at $2,666,000 after buying an additional 2,142 shares in the last quarter. Hedge funds and other institutional investors own 73.44% of the company’s stock.
Several brokerages recently issued reports on TSN. Royal Bank Of Canada decreased their price target on Tyson Foods from $75.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday. Jefferies Group reduced their price objective on Tyson Foods from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday. Vetr upgraded Tyson Foods from a “hold” rating to a “strong-buy” rating and set a $67.75 price objective for the company in a research note on Monday. RBC Capital Markets restated a “sector perform” rating and issued a $72.00 price objective (up previously from $68.00) on shares of Tyson Foods in a research note on Friday, August 5th. Finally, BMO Capital Markets restated a “buy” rating and issued a $84.00 price objective on shares of Tyson Foods in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.41.
Tyson Foods Company Profile
Tyson Foods, Inc is a food company. The Company is engaged in offering chicken, beef and pork, as well as prepared foods, including bacon, breakfast sausage, turkey, lunchmeat, hot dogs, pizza crusts and toppings, tortillas and desserts. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands.
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