JBT Marel (NYSE:JBTM) Announces Earnings Results

JBT Marel (NYSE:JBTM) issued its quarterly earnings results on Tuesday. The company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.10, Zacks reports. The firm had revenue of $994.00 million during the quarter. JBT Marel had a net margin of 4.89% and a return on equity of 8.75%.

JBT Marel Price Performance

Shares of NYSE JBTM traded up $4.75 during mid-day trading on Tuesday, hitting $119.53. 90,840 shares of the stock were exchanged, compared to its average volume of 550,437. JBT Marel has a twelve month low of $102.97 and a twelve month high of $170.19. The stock’s fifty day simple moving average is $110.92 and its two-hundred day simple moving average is $131.05. 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 company has a market cap of $6.20 billion, a P/E ratio of 32.44, a PEG ratio of 1.19 and a beta of 0.94.

JBT Marel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a dividend of $0.10 per share. The ex-dividend date 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 (DPR) is 10.90%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on JBTM shares. KeyCorp started coverage on shares of JBT Marel in a report on Tuesday, August 25th. They set an “overweight” rating and a $150.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of JBT Marel in a research note on Wednesday, September 2nd. Barclays started coverage on JBT Marel in a research report on Tuesday, September 8th. They set 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 on the stock in a research note on Thursday, September 24th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.20.

About JBT Marel

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.