Tyson Foods, Inc. (NYSE:TSN) announced on Monday that its net income rose 91% in its fiscal Q4, benefiting from higher chicken prices.
The country’s largest meat company declared that its earnings results simply beat Wall Street’s estimate, and it offered fiscal 2013 revenue guidance above analysts’ anticipates. Shares rose in premarket trading.
For the quarter ended Sept. 29, Tyson Foods generated $185M, or 51 cents a share. That’s increased from $97 million, or 26 cents a share, in the earlier-year quarter.
On average analysts, estimates earnings of 46 cents a share, according to FactSet. Tyson Foods’ stock surged 57 cents, or 3.4%, to $17.45 before the market open.
Revenue plunged to $8.37B from $8.4B. Wall Street forecasted higher revenue of $8.48 billion.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Smithfield Foods, Inc. (NYSE:SFD) gain +5.62%, BRF Brasil Foods SA (ADR) (NYSE:BRFS) edged up +4.21%, Pilgrim’s Pride Corporation (NYSE:PPC) which also increased +0.16% and Industrias Bachoco, S.A.B. de C.V. (ADR) (NYSE:IBA) closed down -1.02%.
Tyson Foods, Inc. (NYSE:TSN) stock’s trade at beginning with a price of $17.70 and throughout the trading session climbed at a high of $18.80 other than when day-trade ended the stock finally advanced 10.90% to $18.72.
The stock is going forward its 52 week low with 33.43% and lagging behind from its 52 week high price with -10.51%. TSN last month stock price volatility remained 2.28%.
TSN stock institutional ownership remained 89.25% while insider ownership included 0.30%. In its share capital TSN has 361.94 million outstanding shares among them 286.42 million shares have been floated in market exchange.
Company’s beta coefficient included 1.02. Beta factors measures the amount of market risk associated with market trade.
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