JBS (NYSE:JBS) Shares Gap Down Following Weak Earnings

Jbs N.V. (NYSE:JBS)’s share price gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $15.27, but opened at $14.09. JBS shares last traded at $14.2270, with a volume of 1,799,673 shares trading hands.

The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The business had revenue of $21.61 billion for the quarter. The firm’s quarterly revenue was up 10.7% on a year-over-year basis.

JBS Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, May 18th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, May 18th.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research lowered JBS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. upped their price objective on JBS from $20.00 to $20.50 and gave the stock an “overweight” rating in a report on Friday, April 24th. Barclays raised their target price on shares of JBS from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, March 27th. UBS Group upgraded shares of JBS to a “strong-buy” rating in a research report on Friday, February 6th. Finally, Mizuho raised shares of JBS to a “strong-buy” rating in a research note on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.08.

Institutional Trading of JBS

Institutional investors have recently bought and sold shares of the stock. BNDES Participacoes S.A. bought a new position in JBS during the fourth quarter valued at $2,874,074,000. Davis Selected Advisers bought a new stake in shares of JBS in the 4th quarter worth about $170,945,000. Banco BTG Pactual S.A. purchased a new position in shares of JBS during the 3rd quarter worth about $143,175,000. Ameriprise Financial Inc. grew its holdings in JBS by 23,891.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,583,073 shares of the company’s stock valued at $98,285,000 after purchasing an additional 6,555,634 shares during the last quarter. Finally, State Street Corp bought a new position in JBS during the 2nd quarter valued at about $84,109,000.

JBS Price Performance

The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 2.28. The company has a market capitalization of $11.08 billion and a PE ratio of 9.88. The stock’s 50-day moving average is $16.54 and its two-hundred day moving average is $15.29.

About JBS

JBS SA is a global leader in the production and processing of meat products, with a focus on beef, pork and poultry. Headquartered in São Paulo, Brazil, the company operates through an extensive network of owned facilities and partnerships that span the Americas, Europe and the Asia-Pacific region. JBS supplies fresh, frozen and value-added protein solutions for retail, foodservice and industrial customers, and is active across the entire supply chain—from livestock procurement and feed production to slaughtering, processing, packaging and distribution.

Founded in 1953 by José Batista Sobrinho in Anápolis, Goiás, JBS began as a small slaughterhouse and expanded rapidly through strategic acquisitions and organic growth.