1. Homepage
  2. Equities
  3. Brazil
  4. Bolsa de Valores de Sao Paulo
  5. JBS S.A.
  6. News
  7. Summary
    JBSS3   BRJBSSACNOR8

JBS S.A.

(JBSS3)
  Report
Delayed Bolsa de Valores de Sao Paulo  -  04:12 2022-08-11 pm EDT
31.24 BRL   +2.26%
03:50pJBS 2Q Profit Rose Slightly vs Year Earlier as Revenue, Costs Increased
DJ
07/30Paper Excellence and J&F remain at odds over Eldorado deal after court ruling
RE
07/26EXCLUSIVE : Thousands of U.S. cattle buried, dumped at Kansas landfill after deadly heatwave -documents
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

U.S. senators propose FTC investigate beef price fixing

05/19/2022 | 01:58pm EDT
Shortages due to COVID-19 pandemic hit the supply chain in Indiana

WASHINGTON (Reuters) - U.S. Senators Elizabeth Warren and Mike Rounds on Thursday introduced a bipartisan resolution asking the Federal Trade Commission to investigate beef companies for potential price fixing.

It is the latest effort by politicians to hold meat companies accountable for high food prices, which critics blame in part on U.S. beef production being controlled by just four large companies.

The senators invoked a 1914 act that authorizes the president or Congress to direct the FTC to investigate alleged antitrust violations. The rule has not been used since the 1920s.

Four companies slaughtered about 85% of U.S. grain-fattened cattle that were made into steaks, beef roasts and other cuts of meat for consumers in 2018, according to the most recent data from the U.S. Department of Agriculture (USDA).

The big four processors are: Cargill, Tyson Foods Inc, Brazil-based JBS SA, and National Beef Packing Co.

The companies did not immediately respond to request for comment but have previously denied consolidation drives up prices.

The Department of Justice has already been conducting an investigation into price fixing in the chicken-processing industry.

Angela Huffman, co-founder and vice president of policy and advocacy group Farm Action, which endorsed the resolution, said Congress should use every possible tool to stop monopoly abuses.

"We are excited that a bipartisan team is reaching back in history and dusting off this tool. The downside is that it is a long path to make change."

(Reporting by Leah Douglas; Writing by Caroline Stauffer; Editing by Marguerita Choy)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -0.12% 5.3177 Delayed Quote.-17.52%
EURO / BRITISH POUND (EUR/GBP) 0.00% 0.84628 Delayed Quote.0.65%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.06% 179.85 End-of-day quote.8.27%
JBS S.A. 2.26% 31.24 Delayed Quote.-19.50%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 -0.11% 140.45 End-of-day quote.0.64%
TYSON FOODS, INC. 1.68% 80.69 Delayed Quote.-7.42%
All news about JBS S.A.
03:50pJBS 2Q Profit Rose Slightly vs Year Earlier as Revenue, Costs Increased
DJ
07/30Paper Excellence and J&F remain at odds over Eldorado deal after court ruling
RE
07/26EXCLUSIVE : Thousands of U.S. cattle buried, dumped at Kansas landfill after deadly heatwa..
RE
07/22JBS Names Wesley Batista Filho as Global President of Operations
DJ
05/30Fitch Affirms Pilgrim's Pride Corporation at 'BBB-'; Outlook Stable
AQ
05/27JBS U.S. units to adopt pandemic response plans after COVID outbreaks
RE
05/24China blocks four Brazil beef plants -agriculture ministry
RE
05/19U.S. senators propose FTC investigate beef price fixing
RE
05/17BRF suspends mask use at Brazil plant as COVID cases fall, rivals do not
RE
05/17JBS S.A. : Ex-dividend day for interim dividend
FA
More news
Analyst Recommendations on JBS S.A.
More recommendations
Financials
Sales 2022 374 B 72 679 M 72 679 M
Net income 2022 15 343 M 2 983 M 2 983 M
Net Debt 2022 57 570 M 11 192 M 11 192 M
P/E ratio 2022 4,68x
Yield 2022 5,37%
Capitalization 69 294 M 13 471 M 13 471 M
EV / Sales 2022 0,34x
EV / Sales 2023 0,31x
Nbr of Employees 250 000
Free-Float 37,3%
Chart JBS S.A.
Duration : Period :
JBS S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends JBS S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Last Close Price 31,24 BRL
Average target price 53,93 BRL
Spread / Average Target 72,6%
EPS Revisions
Managers and Directors
Gilberto Tomazoni Chief Executive & Operating Officer
Guilherme Perboyre Cavalcanti Chief Financial & Investor Relations Officer
Jeremiah Alphonsus O'Callaghan Chairman
Eliseo Santiago Perez Fernandez Director-Administration & Control
Cledorvino Belini Independent Director
Sector and Competitors
1st jan.Capi. (M$)
JBS S.A.-19.50%13 412
TYSON FOODS, INC.-8.95%28 540
HORMEL FOODS CORPORATION2.13%27 221
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.-15.91%13 382
WH GROUP LIMITED12.68%9 930
PILGRIM'S PRIDE CORPORATION6.13%7 155