JBS (NYSE:JBS) Issues Earnings Results, Misses Estimates By $2.22 EPS

JBS (NYSE:JBS) issued its earnings results on Friday. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($2.22), Briefing.com reports. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year.

JBS Stock Up 0.7%

Shares of JBS stock traded up $0.10 during trading hours on Friday, reaching $13.24. 8,701,785 shares of the company traded hands, compared to its average volume of 5,961,241. JBS has a 12-month low of $12.37 and a 12-month high of $17.80. The company has a quick ratio of 0.76, a current ratio of 1.54 and a debt-to-equity ratio of 2.15. The stock’s 50-day moving average price is $13.94.

Wall Street Analysts Forecast Growth

JBS has been the topic of several research analyst reports. Wall Street Zen cut JBS from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Zacks Research downgraded JBS from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Mizuho set a $20.00 price target on JBS in a research note on Tuesday, October 28th. Santander initiated coverage on shares of JBS in a research report on Thursday, August 14th. They set a “neutral” rating for the company. Finally, Stephens reissued an “overweight” rating and issued a $19.00 price objective on shares of JBS in a report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.67.

Hedge Funds Weigh In On JBS

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new position in shares of JBS in the second quarter worth approximately $29,000. Parallel Advisors LLC bought a new position in JBS in the 3rd quarter worth $61,000. Osaic Holdings Inc. purchased a new stake in JBS in the 2nd quarter worth $94,000. Smartleaf Asset Management LLC purchased a new stake in JBS in the 2nd quarter worth $129,000. Finally, Cresset Asset Management LLC bought a new stake in JBS during the second quarter valued at about $176,000.

About JBS

JBS N.V., together with its subsidiaries, operates as a protein and food company worldwide. The company offers beef, pork, chicken, poultry, fish, and lamb products; cooked frozen meat; plant based products; and other food products. It also sells leather, leather, hygiene and cleaning products, collagen, metal packaging, biodiesel, and others, as well as wet blue leather, semi-finished, and finished leather products.