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Strength Seen in JBT (JBTM): Can Its 7.3% Jump Turn into More Strength?
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JBT Marel (JBTM - Free Report) shares ended the last trading session 7.3% higher at $102.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 23.8% loss over the past four weeks.
The stock has witnessed this price hike as the company benefits from the unification of JBT and Marel, allowing it to become a valuable partner to global customers. The combination leads to enhanced operational efficiency, machine uptime and traceability in high-volume operations.
This food processing and transportation services company is expected to post quarterly earnings of $0.82 per share in its upcoming report, which represents a year-over-year change of -3.5%. Revenues are expected to be $831.7 million, up 112% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For JBT, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on JBTM going forward to see if this recent jump can turn into more strength down the road.
JBT is part of the Zacks Technology Services industry. Cricut, Inc. (CRCT - Free Report) , another stock in the same industry, closed the last trading session 8.7% higher at $5.01. CRCT has returned -15.1% in the past month.
For Cricut, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. This represents a change of -11.1% from what the company reported a year ago. Cricut currently has a Zacks Rank of #4 (Sell).
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Strength Seen in JBT (JBTM): Can Its 7.3% Jump Turn into More Strength?
JBT Marel (JBTM - Free Report) shares ended the last trading session 7.3% higher at $102.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 23.8% loss over the past four weeks.
The stock has witnessed this price hike as the company benefits from the unification of JBT and Marel, allowing it to become a valuable partner to global customers. The combination leads to enhanced operational efficiency, machine uptime and traceability in high-volume operations.
This food processing and transportation services company is expected to post quarterly earnings of $0.82 per share in its upcoming report, which represents a year-over-year change of -3.5%. Revenues are expected to be $831.7 million, up 112% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For JBT, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on JBTM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
JBT is part of the Zacks Technology Services industry. Cricut, Inc. (CRCT - Free Report) , another stock in the same industry, closed the last trading session 8.7% higher at $5.01. CRCT has returned -15.1% in the past month.
For Cricut, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. This represents a change of -11.1% from what the company reported a year ago. Cricut currently has a Zacks Rank of #4 (Sell).