|Bid||19.71 x 0|
|Ask||19.73 x 0|
|Day's Range||19.23 - 20.08|
|52 Week Range||7.91 - 20.08|
|Beta (3Y Monthly)||0.23|
|PE Ratio (TTM)||2,191.11|
|Earnings Date||May 14, 2019|
|Forward Dividend & Yield||0.05 (0.29%)|
|1y Target Est||12.99|
Tyson Foods Inc, Cargill Inc, the JBS USA unit of Brazil's JBS SA and National Beef Packing Co were accused of colluding since Jan. 2015 to suppress the price of "fed" cattle, which is cattle raised specifically for beef production, with a goal of improving margins and profitability. The 104-page complaint by the Ranchers Cattlemen Action Legal Fund United Stockgrowers of America (R-CALF) and four cattle-feeding ranchers was filed in Chicago federal court, and seeks compensatory, punitive and triple damages. It resembles litigation in the same court in which companies, including Tyson and JBS, have been accused of conspiring to fix prices of broiler chickens and pork.
Net proceeds from unsecured notes to be used to repay a portion of secured debt. New York, April 23, 2019 -- Moody's Investors Service, ("Moody's") has assigned Ba3 ratings to $700 million of unsecured notes being proposed as add-ons to existing notes that were co-issued by JBS USA Lux S.A. ("JBS USA"), JBS USA Finance, Inc. ("JBS USA Finance") and JBS USA Food Company ("JBS USA Food").
Morgan Stanley raised its recommendation on JBS SA to overweight, equivalent to buy, boosting its price target by 46 percent to 20.50 reais ($5.26). China has been forced to cull hog herds as the spread of African swine fever continues to rage. “African swine fever has sparked a rally across global protein stocks, but it’s not too late to buy in,” Morgan Stanley analysts led by Rafael Shin said Monday in a report to clients.
Exports of Brazilian beef grew 2.6 percent in the first quarter of 2019 to 405,669 million tonnes, the trade group Abiec said on Monday. Despite the growth, revenue from beef sold decreased 5.6 percent ...
Most Latin American currencies firmed against a slightly stronger dollar on Friday, while Brazil's real weakened as President Jair Bolsonaro appealed to leaders of five big centrist parties to back his ...
Moody's Investors Service, ("Moody's") has assigned a Ba3 rating to $650 million of unsecured 10-year notes proposed to be co-issued by JBS USA Lux S.A. ("JBS USA"), JBS USA Finance, Inc. ("JBS USA Finance") and JBS USA Food Company ("JBS USA Food"). The co-issuers are indirect wholly-owned subsidiaries of Brazil based JBS S.A. (Ba3 stable, the "parent"). The other ratings of JBS USA and the stable ratings outlook are unaffected.
Moody's Investors Service ("Moody's") comments that JBS S.A. (JBS) Ba3 corporate family, senior unsecured ratings of its wholly-owned subsidiary JBS Investments II Gmbh, and stable outlook remain unchanged following the company's announcement that it plans to issue $300 million in senior unsecured notes. This transaction will be an add-on to the $500 million notes due 2026 issued in October 2018 by JBS Investments II GmbH and fully guaranteed by JBS S.A. Net proceeds from the proposed issuance will be used primarily for liability management purposes by refinancing shorter maturity debt instruments, mostly represented by trade finance lines with Brazilian banks, and therefore there will be no impact on leverage.
Brazilian former President Michel Temer was hit with more graft charges on Friday, just a day after being charged in a separate corruption case, according to federal prosecutors. Temer, who left the presidency at the end of 2018, was arrested last week as part of an investigation into kickbacks on a nuclear plant's construction contract involving the Brazilian subsidiary of Swedish consulting firm AF Poyry, along with engineering firms Engevix and Argeplan. Temer has since been released and denies wrongdoing.
Latin American shares rose on Friday, in line with other emerging market peers and world stocks, as encouraging signals from U.S.-China trade talks supported risk sentiment. MSCI's index of Latin American ...
JBS SA executives said on Friday the Brazilian meat company will deliver higher earnings in 2019 on strong demand for beef in the United States and Australia as well as growing Chinese demand for various proteins. "The good news is that the price of chicken has already started to climb in the U.S.," Guilherme Cavalcanti, chief financial officer, told analysts. This development should help JBS' Pilgrim's Pride Corp. division, which struggled in 2018.
Latin American stocks rose on Friday, on course to post their best quarter since the third quarter of 2017 as optimism over U.S-China trade talks boosted risk appetite, while a softer dollar helped prop ...
Former Brazilian President Michel Temer has been formally charged with corruption on allegations of using a middleman to procure a suitcase full of cash from the world's largest meatpacker, JBS SA, federal prosecutors said on Thursday. Temer, who was president from 2016 until the end of 2018, was arrested last week as part of a separate investigation and accused of running a vast criminal enterprise that sought bribes for public works projects. In 2017, Rodrigo da Rocha Loures was caught on video by security cameras running out of a Sao Paulo restaurant carrying a bag with 500,000 reais ($128,166) in cash that prosecutors said was a bribe from the owners of JBS.
Brazil's JBS SA posted fourth-quarter results that missed analysts' estimates due to challenges at its U.S. chicken and pork businesses, according to a securities filing on Thursday. The meat company, which has large operations in the United States aside from Brazil and Australia, reported a net profit of 563.2 million reais ($144.43 million), reversing a 451.7 million reais loss in the 2017 fourth quarter. JBS said the price of pork in the United States, and more significantly the performance of its Pilgrim's Pride Co division, affected its operating performance and margins.
SAO PAULO, March 21, 2019 /PRNewswire/ -- JBS Couros, the world's largest leather processing company, has unveiled a new concept of sustainable leather: the Kind Leather range. It is the result of two years' research and development driven by current and future consumer requirements. "Kind Leather will revolutionize the industry, changing the way leather is made globally and building a closer connection to consumers," said Roberto Motta, CEO of JBS Couros. Kind Leather also provides additional sustainability through its end-to-end traceability program, which gathers data throughout the leather production chain. JBS Couros is the industry's only company offering this level of production chain visibility, at large scale, combining a robust leather traceability program with a modern monitoring system that verifies more than 80,000 cattle suppliers in Brazil, ensuring they comply with social and environmental standards.
A Delaware judge has refused to dismiss a shareholder lawsuit over poultry company Pilgrim's Pride's $1.3 billion acquisition of U.K. poultry producer Moy Park, which was a wholly owned subsidiary of Pilgrim's ...
A Delaware judge ruled on Friday that executives from Brazilian meat processor JBS SA and from its U.S.-based subsidiary Pilgrim's Pride Corp will face trial regarding a shareholder lawsuit questioning the acquisition of Moy Park in 2017. Based in Northern Ireland, poultry processor Moy Park was a subsidiary of JBS SA as well. Minority Pilgrim's shareholders sued the company's executives, including board members appointed by its parent, after the $1.3 bln acquisition, saying Pilgrim's was forced by JBS to make the purchase in conditions that were not favorable.
Brazilian prosecutors are asking for repayment of 5.5 billion reais to state development bank BNDES for cash injections the bank financed in meatpacker JBS SA.
Latin American stocks hovered near 2019 lows on Wednesday led by steep losses in Argentina and Brazil which resumed trading after a two-day Carnival holiday, while currencies of oil exporters in the region ...
BRASÍLIA, Jan 18 (Reuters) - Brazil is moving toward a self-monitoring system for food processors, Agriculture Minister Tereza Cristina Dias said on Friday, including meatpackers still recovering from an inspection scandal that hurt trade with key markets. Dias said in an interview that the South American nation's new business-friendly government plans to send draft legislation on self-monitoring to Congress in the first half of this year. Self-monitoring, widely used in the United States and other developed countries in Europe, would be introduced gradually across various agricultural products and eventually be used for oversight of meatpackers.