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

JBT Marel (NYSE:JBTM) announced its quarterly earnings results on Tuesday. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $2.09 by $0.10, Zacks reports. The business had revenue of $994.00 million for the quarter. JBT Marel had a return on equity of 8.75% and a net margin of 4.89%.

JBT Marel Trading Up 4.2%

JBT Marel stock traded up $4.79 during trading on Tuesday, reaching $119.56. The company had a trading volume of 60,263 shares, compared to its average volume of 550,412. JBT Marel has a 12-month low of $102.97 and a 12-month high of $170.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.24. The stock’s 50 day moving average price is $110.92 and its two-hundred day moving average price is $131.05. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 1.19 and a beta of 0.94.

JBT Marel Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. JBT Marel’s dividend payout ratio is currently 10.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays assumed coverage on JBT Marel in a report on Tuesday, September 8th. They set an “overweight” rating and a $150.00 target price on the stock. Robert W. Baird cut their price target on JBT Marel from $188.00 to $171.00 and set an “outperform” rating for the company in a report on Thursday, September 24th. KeyCorp assumed coverage on JBT Marel in a research report on Tuesday, August 25th. They issued an “overweight” rating and a $150.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of JBT Marel in a research report on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, JBT Marel presently has an average rating of “Moderate Buy” and an average 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.