$373.67 Million in Sales Expected for John Bean Technologies Corp (JBT) This Quarter

Wall Street brokerages predict that John Bean Technologies Corp (NYSE:JBT) will announce $373.67 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for John Bean Technologies’ earnings, with the lowest sales estimate coming in at $368.20 million and the highest estimate coming in at $376.24 million. John Bean Technologies reported sales of $344.50 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.5%. The firm is expected to report its next earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that John Bean Technologies will report full-year sales of $373.67 million for the current fiscal year, with estimates ranging from $1.81 billion to $1.85 billion. For the next year, analysts forecast that the firm will report sales of $1.97 billion per share, with estimates ranging from $1.93 billion to $2.07 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for John Bean Technologies.

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John Bean Technologies (NYSE:JBT) last released its earnings results on Monday, February 26th. The industrial products company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $483.70 million during the quarter, compared to the consensus estimate of $470.35 million. John Bean Technologies had a return on equity of 23.93% and a net margin of 4.92%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded John Bean Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Wells Fargo set a $130.00 target price on John Bean Technologies and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, BMO Capital Markets boosted their target price on John Bean Technologies to $125.00 and gave the stock an “outperform” rating in a research report on Monday, March 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $110.57.

John Bean Technologies (NYSE JBT) traded up $1.45 during mid-day trading on Thursday, hitting $121.80. The stock had a trading volume of 333,432 shares, compared to its average volume of 166,876. The company has a market capitalization of $3,846.08, a P/E ratio of 48.14, a P/E/G ratio of 1.98 and a beta of 1.32. John Bean Technologies has a 12 month low of $82.45 and a 12 month high of $122.65. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Monday, March 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, March 2nd. This is an increase from John Bean Technologies’s previous quarterly dividend of $0.09. John Bean Technologies’s dividend payout ratio is currently 15.81%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. bought a new stake in John Bean Technologies in the fourth quarter valued at about $201,000. BB&T Corp bought a new stake in John Bean Technologies in the fourth quarter valued at about $206,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in John Bean Technologies by 43.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,911 shares of the industrial products company’s stock valued at $212,000 after purchasing an additional 581 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in John Bean Technologies in the fourth quarter valued at about $245,000. Finally, Carnegie Capital Asset Management LLC bought a new stake in John Bean Technologies in the fourth quarter valued at about $244,000.

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John Bean Technologies Company Profile

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.

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Earnings History and Estimates for John Bean Technologies (NYSE:JBT)

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