John Bean Technologies Co. (NYSE:JBT) Expected to Announce Quarterly Sales of $554.40 Million

Wall Street analysts expect that John Bean Technologies Co. (NYSE:JBTGet Rating) will announce $554.40 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for John Bean Technologies’ earnings, with estimates ranging from $551.30 million to $556.60 million. John Bean Technologies reported sales of $475.50 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that John Bean Technologies will report full year sales of $2.21 billion for the current financial year, with estimates ranging from $2.19 billion to $2.21 billion. For the next year, analysts anticipate that the company will report sales of $2.41 billion, with estimates ranging from $2.34 billion to $2.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow John Bean Technologies.

John Bean Technologies (NYSE:JBTGet Rating) last issued its earnings results on Tuesday, April 26th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.31. John Bean Technologies had a net margin of 6.09% and a return on equity of 17.57%. The business had revenue of $469.20 million during the quarter, compared to the consensus estimate of $440.64 million. During the same period last year, the business posted $0.90 EPS.

Several equities research analysts have issued reports on JBT shares. BMO Capital Markets cut their price objective on shares of John Bean Technologies from $165.00 to $150.00 in a research report on Thursday, February 24th. TheStreet cut shares of John Bean Technologies from a “b” rating to a “c+” rating in a research note on Monday, March 14th. StockNews.com assumed coverage on shares of John Bean Technologies in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Robert W. Baird decreased their price objective on shares of John Bean Technologies from $143.00 to $140.00 in a research note on Wednesday, April 27th. Finally, Wells Fargo & Company decreased their price objective on shares of John Bean Technologies from $185.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $131.20.

In related news, Director Caroline Maury Devine sold 300 shares of the business’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $116.89, for a total value of $35,067.00. Following the transaction, the director now owns 48,249 shares in the company, valued at $5,639,825.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders sold 900 shares of company stock worth $101,397. 1.30% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC acquired a new position in shares of John Bean Technologies during the fourth quarter valued at about $30,000. Allworth Financial LP acquired a new position in shares of John Bean Technologies during the first quarter valued at about $25,000. Confluence Wealth Services Inc. acquired a new position in shares of John Bean Technologies during the fourth quarter valued at about $34,000. CWM LLC raised its holdings in shares of John Bean Technologies by 176.1% during the first quarter. CWM LLC now owns 243 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 155 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new position in shares of John Bean Technologies during the third quarter valued at about $39,000.

JBT stock traded down $0.83 during mid-day trading on Thursday, hitting $115.03. 148,461 shares of the company were exchanged, compared to its average volume of 227,967. The business has a 50 day simple moving average of $114.31 and a 200-day simple moving average of $134.70. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $3.66 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.35 and a beta of 1.48. John Bean Technologies has a 1-year low of $98.57 and a 1-year high of $177.56.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Thursday, May 26th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, May 25th. This represents a $0.40 annualized dividend and a yield of 0.35%. John Bean Technologies’s payout ratio is 10.96%.

John Bean Technologies Company Profile (Get Rating)

John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.

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

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