John Bean Technologies Co. Expected to Earn Q2 2024 Earnings of $1.16 Per Share (NYSE:JBT)

John Bean Technologies Co. (NYSE:JBT) – Investment analysts at Seaport Res Ptn upped their Q2 2024 earnings per share (EPS) estimates for shares of John Bean Technologies in a research note issued on Tuesday, April 16th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $1.16 for the quarter, up from their previous forecast of $1.15. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.15 per share. Seaport Res Ptn also issued estimates for John Bean Technologies’ Q3 2024 earnings at $1.26 EPS, Q3 2025 earnings at $1.43 EPS and FY2025 earnings at $5.77 EPS.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.04. The business had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $445.81 million. John Bean Technologies had a return on equity of 12.15% and a net margin of 33.53%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 EPS.

Separately, Robert W. Baird reiterated an “outperform” rating and issued a $121.00 target price on shares of John Bean Technologies in a report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, John Bean Technologies has an average rating of “Moderate Buy” and a consensus target price of $121.00.

John Bean Technologies Trading Down 0.4 %

Shares of John Bean Technologies stock traded down $0.39 on Wednesday, reaching $90.18. The company had a trading volume of 226,047 shares, compared to its average volume of 211,672. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 4.81, a P/E/G ratio of 1.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.27 and a quick ratio of 1.78. The firm’s 50-day moving average price is $100.47 and its two-hundred day moving average price is $101.22. John Bean Technologies has a 1 year low of $89.96 and a 1 year high of $125.88.

Institutional Investors Weigh In On John Bean Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its position in John Bean Technologies by 64.6% during the 1st quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock valued at $218,546,000 after purchasing an additional 723,720 shares in the last quarter. Victory Capital Management Inc. raised its position in John Bean Technologies by 109.9% during the 3rd quarter. Victory Capital Management Inc. now owns 826,544 shares of the industrial products company’s stock valued at $86,903,000 after purchasing an additional 432,822 shares in the last quarter. Norges Bank bought a new stake in John Bean Technologies during the 4th quarter valued at $37,359,000. Royal Bank of Canada raised its position in John Bean Technologies by 82.0% during the 1st quarter. Royal Bank of Canada now owns 372,539 shares of the industrial products company’s stock valued at $44,134,000 after purchasing an additional 167,866 shares in the last quarter. Finally, P2 Capital Partners LLC raised its position in John Bean Technologies by 39.0% during the 4th quarter. P2 Capital Partners LLC now owns 556,442 shares of the industrial products company’s stock valued at $55,338,000 after purchasing an additional 156,241 shares in the last quarter. 98.92% of the stock is owned by institutional investors.

John Bean Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, March 8th. John Bean Technologies’s dividend payout ratio is currently 2.12%.

John Bean Technologies Company Profile

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.