Tyson Foods (TSN) Stock Higher Following Second Quarter Earnings Release

NEW YORK (TheStreet) -- Shares of Tyson Foods Inc  (TSN) are higher by 1.48% to $41.09 in late morning trading Monday, after the biggest U.S. meat processor reported mixed earnings results this morning for its second quarter ended March 28.

The company earned 75 cents per share for the quarter, topping the 72 cents per share analysts were expecting, according to Thomson Reuters. 

Tyson said it got a boost from its acquisition of Jimmy Dean sausage maker Hillshire Brands Co. Tyson expects saving of more than $250 million this year, up from its previous forecast of about $225 million in savings.

Revenue rose 10.5% from a year ago to $9.98 billion for the second quarter, but missed the $10.11 billion analysts were expecting.

Tyson also reiterated its 2015 earnings forecast of between $3.30 per share to $3.40 per share.

Springdale, AR-based Tyson Foods is a food production company that produces, distributes and markets chicken, beef, pork, prepared foods and related allied products.

Separately, TheStreet Ratings team rates TYSON FOODS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate TYSON FOODS INC (TSN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, good cash flow from operations, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

If you liked this article you might like

Learn From My Portfolio Mistakes: Cramer's 'Mad Money' Recap (Friday 9/1/17)

Tyson Foods Cleared by SEC in Pricing Investigation

Nestle, Unilever, Tyson Join IBM's Long List of Blockchain Project Partners

History May Be Prologue on Snap-Like IPOs

Dave and Busters, Hasbro, Tyson Foods: 'Mad Money' Lightning Round