JBT Marel (NYSE:JBTM) Stock Price Down 0.7% – Here’s Why

JBT Marel Corp (NYSE:JBTM) shares were down 0.7% on Wednesday . The stock traded as low as $126.50 and last traded at $126.74. Approximately 316,497 shares traded hands during trading, a decline of 48% from the average daily volume of 607,572 shares. The stock had previously closed at $127.68.

Wall Street Analysts Forecast Growth

Separately, CL King began coverage on shares of JBT Marel in a research report on Wednesday, January 22nd. They set a “buy” rating and a $143.00 price objective on the stock.

JBT Marel Stock Down 0.7 %

The firm has a fifty day simple moving average of $127.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.00 and a current ratio of 2.55. The stock has a market capitalization of $6.58 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.56 and a beta of 1.21.

JBT Marel (NYSE:JBTM) last released its quarterly earnings results on Monday, February 24th. The company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.10). The business had revenue of $467.60 million for the quarter, compared to analysts’ expectations of $490.23 million. JBT Marel had a net margin of 10.25% and a return on equity of 10.16%. As a group, research analysts forecast that JBT Marel Corp will post 5.21 EPS for the current year.

JBT Marel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, March 10th. JBT Marel’s payout ratio is 15.09%.

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.