JBT Marel (NYSE:JBTM) Shares Gap Up on Better-Than-Expected Earnings
by Tristan Rich · The Markets DailyJBT Marel Corporation (NYSE:JBTM – Get Free Report)’s share price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $114.78, but opened at $121.29. JBT Marel shares last traded at $119.1050, with a volume of 35,013 shares changing hands.
The company reported $2.19 EPS for the quarter, topping the consensus estimate of $2.09 by $0.10. JBT Marel had a net margin of 4.89% and a return on equity of 8.75%. The firm had revenue of $994.00 million during the quarter.
JBT Marel Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, August 17th. JBT Marel’s dividend payout ratio (DPR) is 10.90%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on JBTM. Barclays assumed coverage on JBT Marel in a report on Tuesday, September 8th. They set an “overweight” rating and a $150.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of JBT Marel in a report on Wednesday, September 2nd. KeyCorp started coverage on JBT Marel in a report on Tuesday, August 25th. They issued an “overweight” rating and a $150.00 target price on the stock. Finally, Robert W. Baird lowered their price target on JBT Marel from $188.00 to $171.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, JBT Marel presently has a consensus rating of “Moderate Buy” and an average price target of $165.20.
Get Our Latest Research Report on JBT Marel
Institutional Investors Weigh In On JBT Marel
Institutional investors have recently bought and sold shares of the business. Pinnacle Wealth Planning Services Inc. increased its position in shares of JBT Marel by 12.3% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,049 shares of the company’s stock worth $111,000 after acquiring an additional 115 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of JBT Marel by 1.4% during the 3rd quarter. Park Avenue Securities LLC now owns 9,361 shares of the company’s stock valued at $988,000 after acquiring an additional 128 shares in the last quarter. Cim Investment Management Inc. lifted its holdings in shares of JBT Marel by 7.4% during the 2nd quarter. Cim Investment Management Inc. now owns 2,310 shares of the company’s stock valued at $335,000 after acquiring an additional 159 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of JBT Marel by 1,211.8% during the 1st quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock valued at $29,000 after acquiring an additional 206 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of JBT Marel by 8.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,929 shares of the company’s stock valued at $375,000 after acquiring an additional 223 shares in the last quarter. 98.92% of the stock is currently owned by hedge funds and other institutional investors.
JBT Marel Trading Up 4.9%
The business’s 50-day moving average is $110.92 and its two-hundred day moving average is $131.05. The company has a current ratio of 1.24, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $6.24 billion, a PE ratio of 32.80, a PEG ratio of 1.19 and a beta of 0.94.
JBT Marel Company Profile
JBT Marel Corporation (NYSE: JBTM) is a global food processing technology company formed through the combination of JBT Corporation and Marel. The company develops, manufactures and services equipment, integrated production lines and software used throughout the food industry, from primary processing to packaging and related automation.
Its products and solutions support the processing of poultry, meat, fish, prepared foods, pet food, plant-based products, fruits and vegetables, and other food categories.