Poultry producer Tyson Foods, Inc. ( TSN ) on Monday said its fiscal third quarter profit fell 21% from last year, but still easily beat analyst expectations.
The Springdale, AR-based company reported fiscal third quarter net income of $196 million, or 51 cents per share, compared with $248 million, or 65 cents per share, in the year-ago period.
Revenue rose 11% from last year to $8.25 billion.
On average, Wall Street analysts expected a much smaller profit of 40 cents per share on lower revenue of $8.27 billion.
Tyson Foods shares were unchanged in premarket trading Monday.
The Bottom Line
Shares of Tyson Foods have a .98% dividend yield, based on Friday's closing stock price of $16.31. The stock has technical support in the $14-$15 price area. If the shares can firm up, we see overhead resistance around the $17-$20 price levels.
Tyson Foods, Inc. ( TSN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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