JBS (NYSE:JBS) Sets New 1-Year Low - Here's Why

Key Points

• JBS shares fell 3.4% to a new 52-week low of $11.49, well below their 50-day and 200-day moving averages.
• The company’s latest quarterly earnings missed expectations, with EPS of $0.20 versus the $0.32 consensus estimate, although revenue rose 13.8% year over year to $23.9 billion.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $18.42, but the CFO recently sold more than 183,000 shares at an average price of $13.85.

Jbs N.V. (NYSE:JBS - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $11.49 and last traded at $11.4650, with a volume of 2266402 shares traded. The stock had previously closed at $11.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of JBS from $17.00 to $17.50 and gave the company a "buy" rating in a research note on Monday, August 24th. Weiss Ratings upgraded shares of JBS from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on JBS from $18.00 to $17.50 and set an "overweight" rating on the stock in a report on Wednesday, August 12th. Wall Street Zen cut JBS from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Zacks Research raised JBS from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.42.

JBS Stock Down 3.4%

The company has a debt-to-equity ratio of 2.51, a current ratio of 1.53 and a quick ratio of 0.77. The firm has a market capitalization of $8.92 billion, a P/E ratio of 11.27, a P/E/G ratio of 4.49 and a beta of -1.67. The company's 50-day simple moving average is $13.09 and its two-hundred day simple moving average is $14.01.

JBS (NYSE:JBS - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.12). JBS had a return on equity of 12.00% and a net margin of 1.22%.The firm had revenue of $23.90 billion during the quarter. JBS's revenue was up 13.8% compared to the same quarter last year. As a group, research analysts expect that Jbs N.V. will post 1.08 earnings per share for the current year.

Insider Buying and Selling

In other JBS news, CFO Guilherme Cavalcanti sold 183,501 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $13.85, for a total transaction of $2,541,488.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of JBS. Arrowstreet Capital Limited Partnership raised its stake in JBS by 117.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,687,775 shares of the company's stock valued at $138,072,000 after purchasing an additional 4,147,304 shares in the last quarter. Alberta Investment Management Corp increased its holdings in shares of JBS by 9.2% in the 4th quarter. Alberta Investment Management Corp now owns 4,622,500 shares of the company's stock worth $66,656,000 after buying an additional 388,200 shares during the last quarter. Bank of America Corp DE raised its position in shares of JBS by 11.6% during the 1st quarter. Bank of America Corp DE now owns 2,782,983 shares of the company's stock valued at $49,982,000 after buying an additional 289,771 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of JBS during the 2nd quarter valued at about $21,866,000. Finally, Brandes Investment Partners LP bought a new position in shares of JBS in the 4th quarter valued at about $24,209,000.

JBS Company Profile

JBS SA is a Brazil-based global food company that produces and sells animal-protein and prepared-food products. Its portfolio includes beef, pork, poultry, lamb, plant-based foods and value-added prepared meals, along with leather and other products derived from its processing operations.

Founded in 1953 by José Batista Sobrinho in Anápolis, Brazil, JBS has expanded from a local cattle-processing business into one of the world's largest protein companies. Its operations and products serve customers in Brazil and international markets across North America, South America, Europe, Asia, Africa and Australia.

JBS markets products under brands that include Friboi, Seara, Swift, Pilgrim's, Primo and 1855, although brand availability varies by country and product category.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.