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

John Bean Technologies Co. (NYSE:JBT) – Analysts at Seaport Res Ptn increased their Q2 2024 EPS estimates for shares of John Bean Technologies in a research note issued on Tuesday, April 16th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will earn $1.16 per share for the quarter, up from their prior estimate 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 announced its earnings results on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 33.53% and a return on equity of 12.15%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $1.49 EPS.

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

John Bean Technologies Price Performance

Shares of John Bean Technologies stock traded down $0.39 during mid-day trading on Wednesday, reaching $90.18. 226,047 shares of the stock were exchanged, compared to its average volume of 211,672. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 4.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.29. The company has a current ratio of 2.27, a quick ratio of 1.78 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $100.47 and a 200 day simple moving average of $101.22. John Bean Technologies has a fifty-two week low of $89.96 and a fifty-two week high of $125.88.

John Bean Technologies Dividend Announcement

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

Institutional Investors Weigh In On John Bean Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Money Concepts Capital Corp bought a new stake in John Bean Technologies during the 4th quarter worth about $29,000. Belpointe Asset Management LLC grew its holdings in John Bean Technologies by 124.0% during the 1st quarter. Belpointe Asset Management LLC now owns 392 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 217 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in John Bean Technologies during the 1st quarter worth about $59,000. State of Wyoming bought a new stake in John Bean Technologies during the 2nd quarter worth about $73,000. Finally, GPS Wealth Strategies Group LLC grew its holdings in John Bean Technologies by 35.5% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 980 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 257 shares during the last quarter. Institutional investors own 98.92% of the company’s stock.

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.