John Bean Technologies Corporation (JBT) Announces Quarterly Earnings Results

John Bean Technologies Corporation (NYSE:JBT) released its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.07, Bloomberg Earnings reports. The company had revenue of $386.10 million during the quarter, compared to the consensus estimate of $381.49 million. John Bean Technologies Corporation had a net margin of 5.32% and a return on equity of 29.18%. John Bean Technologies Corporation’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. John Bean Technologies Corporation updated its Q3 guidance to $0.76 to $0.79 EPS and its FY17 guidance to $2.95 to $3.10 EPS.

Shares of John Bean Technologies Corporation (JBT) opened at 87.35 on Friday. The stock’s 50 day moving average is $91.98 and its 200 day moving average is $89.12. John Bean Technologies Corporation has a 52-week low of $64.28 and a 52-week high of $99.20. The stock has a market cap of $2.76 billion, a PE ratio of 33.83 and a beta of 1.32.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.40 annualized dividend and a dividend yield of 0.46%. This is a boost from John Bean Technologies Corporation’s previous quarterly dividend of $0.09. John Bean Technologies Corporation’s dividend payout ratio (DPR) is 15.44%.

Several research analysts have commented on JBT shares. BidaskClub downgraded shares of John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded shares of John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co started coverage on shares of John Bean Technologies Corporation in a report on Friday, June 2nd. They issued a “neutral” rating and a $88.00 price target for the company. Finally, Bank of America Corporation started coverage on shares of John Bean Technologies Corporation in a report on Thursday, May 18th. They issued a “neutral” rating and a $89.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. John Bean Technologies Corporation has a consensus rating of “Hold” and a consensus price target of $99.86.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of John Bean Technologies Corporation by 30,340.7% in the first quarter. BlackRock Inc. now owns 3,715,900 shares of the industrial products company’s stock worth $326,813,000 after buying an additional 3,703,693 shares in the last quarter. Columbus Circle Investors raised its position in shares of John Bean Technologies Corporation by 153.8% in the first quarter. Columbus Circle Investors now owns 392,705 shares of the industrial products company’s stock worth $34,538,000 after buying an additional 237,968 shares in the last quarter. Norges Bank bought a new position in shares of John Bean Technologies Corporation during the fourth quarter worth $17,171,000. Conestoga Capital Advisors LLC raised its position in shares of John Bean Technologies Corporation by 86.3% in the first quarter. Conestoga Capital Advisors LLC now owns 240,846 shares of the industrial products company’s stock worth $21,182,000 after buying an additional 111,586 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of John Bean Technologies Corporation by 14.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 126,853 shares of the industrial products company’s stock worth $11,157,000 after buying an additional 16,417 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

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About John Bean Technologies Corporation

John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.

Earnings History for John Bean Technologies Corporation (NYSE:JBT)

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