RBC Capital Adjusts Estimates Ahead of Tyson Foods (TSN) 4Q Report
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
RBC Capital reiterated a Sector Perform rating and $75.00 price target on Tyson Foods (NYSE: TSN) ahead of the company's 4Q earnings report. RBC increased 2016 EPS estimates from $4.56 to $4.60, guidance was $4.40-$4.50, compared with the consensus of $4.57.
Analyst David Palmer commented, "We are increasing our EPS estimates as a result of increased US cattle and hog supply--resulting in lower input prices and improved processing capacity utilization for Tyson's beef and pork segments (52% of sales). Our Chicken segment estimates continue to reflect more difficult feed cost comparisons by the end of '17. Our target and Sector Perform rating remain unchanged. Tyson reports F4Q16 results on 11/21 BMO."
Shares of Tyson closed at $69.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Drexel Hamilton Raises Price Target on Workday (WDAY) Following 3Q Beat
- FBR Capital Cuts Price Target on Express (EXPR) Following 3Q EPS Miss
- Jefferies Raises Price Target on US Physical Therapy (USPH) to $63 Following 12-Clinic Acquisition
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRBC Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!