JBT Marel (NYSE:JBTM) Releases Earnings Results, Beats Estimates By $0.10 EPS

JBT Marel (NYSE:JBTM) issued its earnings results on Tuesday. The company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.10, Zacks reports. 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 Stock Performance

Shares of JBT Marel stock traded up $4.79 on Tuesday, reaching $119.56. 60,263 shares of the stock were exchanged, compared to its average volume of 550,412. The firm has a market capitalization of $6.20 billion, a PE ratio of 32.80, a PEG ratio of 1.19 and a beta of 0.94. JBT Marel has a 1-year low of $102.97 and a 1-year high of $170.19. The business has a fifty day moving average price of $110.92 and a two-hundred day moving average price of $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.

JBT Marel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a dividend of $0.10 per share. 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 payout ratio is 10.90%.

Analyst Upgrades and Downgrades

JBTM has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of JBT Marel in a report on Wednesday, September 2nd. Barclays initiated coverage on JBT Marel in a research report on Tuesday, September 8th. They issued an “overweight” rating and a $150.00 target price for the company. Robert W. Baird dropped their price target on JBT Marel from $188.00 to $171.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. Finally, KeyCorp assumed coverage on JBT Marel in a research report on Tuesday, August 25th. They set an “overweight” rating and a $150.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.20.

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.