NEW YORK (TheStreet) -- Tyson Foods (TSN) shares continue to gain, up 2.6% to $40.56, on Monday after announcing that it was selling its Brazilian and Mexican poultry businesses to JBS Pilgrim's Pride for $575 million.
Tyson Foods outbid JBS for Hillshire Brands (HSH) earlier this month in a $63 per share deal for the packaged food maker, and the proceeds from the sale of its Mexican and Brazilian poultry assets will go towards helping to pay down debt from the Hillshrie deal.
The company also reported an 11% rise in year over year third quarter revenues to $9.63 billion during the period, ahead of analysts $9.5 billion estimates before the opening bell today.
The food production company reported earnings of $260 million, or 75 cents per diluted share, 3 cents short of analysts expectations.
TheStreet Ratings team rates TYSON FOODS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TYSON FOODS INC (TSN) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow."