JBS (NYSE:JBS) Shares Gap Down After Earnings Miss

Jbs N.V. (NYSE:JBS) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. 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 traded.

The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The company had revenue of $21.61 billion during the quarter. The company’s quarterly revenue was up 10.7% compared to the same quarter last year.

JBS Dividend Announcement

The firm also recently announced 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

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of JBS in a research note on Monday, May 4th. Barclays boosted their price objective on shares of JBS from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. raised their target price on shares of JBS from $20.00 to $20.50 and gave the stock an “overweight” rating in a research report on Friday, April 24th. UBS Group raised shares of JBS to a “strong-buy” rating in a research note on Friday, February 6th. Finally, Mizuho upgraded JBS to a “strong-buy” rating in a report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $20.08.

Institutional Investors Weigh In On JBS

Hedge funds have recently modified their holdings of the business. Steadtrust LLC boosted its position in JBS by 0.5% during the fourth quarter. Steadtrust LLC now owns 173,630 shares of the company’s stock valued at $2,504,000 after purchasing an additional 800 shares in the last quarter. Capital Research Global Investors raised its holdings in JBS by 0.6% in the third quarter. Capital Research Global Investors now owns 145,352 shares of the company’s stock worth $2,186,000 after purchasing an additional 839 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in JBS by 5.4% in the first quarter. PNC Financial Services Group Inc. now owns 17,021 shares of the company’s stock worth $306,000 after purchasing an additional 867 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of JBS by 7.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 13,003 shares of the company’s stock valued at $188,000 after buying an additional 908 shares during the last quarter. Finally, Dodge & Cox boosted its holdings in shares of JBS by 6.3% in the 4th quarter. Dodge & Cox now owns 16,950 shares of the company’s stock valued at $244,000 after buying an additional 1,000 shares in the last quarter.

JBS Stock Down 6.5%

The business’s fifty day moving average price is $16.54 and its two-hundred day moving average price is $15.29. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.91 and a current ratio of 1.60. The firm has a market capitalization of $11.08 billion and a P/E ratio of 9.88.

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.