JBT Marel (NYSE:JBTM) Shares Gap Up Following Strong Earnings

JBT Marel Corporation (NYSE:JBTM) shares gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $124.62, but opened at $132.87. JBT Marel shares last traded at $139.8950, with a volume of 248,284 shares.

The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.43. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $936.75 million. JBT Marel had a positive return on equity of 7.96% and a negative net margin of 5.08%.The company’s revenue was up 120.6% on a year-over-year basis. JBT Marel has set its FY 2025 guidance at 6.100-6.400 EPS.

JBT Marel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, August 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. JBT Marel’s payout ratio is presently -17.47%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. William Blair upgraded JBT Marel from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 6th. Robert W. Baird set a $169.00 price objective on JBT Marel in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of JBT Marel in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Hedge Funds Weigh In On JBT Marel

Several large investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS lifted its position in shares of JBT Marel by 0.9% in the third quarter. KLP Kapitalforvaltning AS now owns 10,800 shares of the company’s stock valued at $1,517,000 after acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of JBT Marel by 6.1% in the third quarter. CIBC Asset Management Inc now owns 2,878 shares of the company’s stock valued at $404,000 after acquiring an additional 166 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of JBT Marel in the third quarter valued at about $25,000. First Horizon Corp purchased a new position in shares of JBT Marel in the third quarter valued at about $27,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JBT Marel by 2.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,132 shares of the company’s stock valued at $1,283,000 after acquiring an additional 211 shares in the last quarter. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

JBT Marel Stock Up 11.9%

The company has a 50-day moving average price of $137.15 and a 200 day moving average price of $127.93. The firm has a market capitalization of $7.24 billion, a PE ratio of -60.76, a P/E/G ratio of 1.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.53.

JBT Marel Company Profile

JBT Marel Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.