$475.74 Million in Sales Expected for John Bean Technologies Corp (NYSE:JBT) This Quarter
Analysts forecast that John Bean Technologies Corp (NYSE:JBT) will announce sales of $475.74 million for the current quarter, Zacks reports. Five analysts have provided estimates for John Bean Technologies’ earnings. The highest sales estimate is $481.00 million and the lowest is $472.70 million. John Bean Technologies reported sales of $491.30 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.2%. The firm is expected to report its next earnings results on Wednesday, July 24th.
On average, analysts expect that John Bean Technologies will report full year sales of $1.94 billion for the current fiscal year, with estimates ranging from $1.90 billion to $2.00 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.05 billion, with estimates ranging from $2.01 billion to $2.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover John Bean Technologies.
John Bean Technologies (NYSE:JBT) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.31. The company had revenue of $417.50 million for the quarter, compared to the consensus estimate of $390.44 million. John Bean Technologies had a net margin of 6.36% and a return on equity of 34.12%. John Bean Technologies’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share.
In other news, Director Caroline Maury Devine sold 300 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $114.30, for a total value of $34,290.00. Following the transaction, the director now directly owns 50,246 shares in the company, valued at $5,743,117.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James L. Marvin sold 1,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $92.53, for a total transaction of $138,795.00. Following the completion of the transaction, the executive vice president now owns 24,679 shares in the company, valued at $2,283,547.87. The disclosure for this sale can be found here. Insiders own 2.23% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of John Bean Technologies by 62.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 357 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 137 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in John Bean Technologies during the 4th quarter worth about $36,000. Quantamental Technologies LLC bought a new position in John Bean Technologies during the 1st quarter worth about $81,000. Advisor Group Inc. grew its holdings in John Bean Technologies by 18.2% during the 4th quarter. Advisor Group Inc. now owns 1,421 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 219 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in John Bean Technologies by 7.3% during the 1st quarter. Parallel Advisors LLC now owns 1,520 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 103 shares in the last quarter.
John Bean Technologies stock traded down $0.97 during mid-day trading on Tuesday, reaching $115.30. 221,621 shares of the company’s stock traded hands, compared to its average volume of 182,871. The stock has a market capitalization of $3.74 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.34 and a beta of 1.46. The firm’s 50 day moving average price is $110.35. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 1.38. John Bean Technologies has a 12-month low of $66.28 and a 12-month high of $123.90.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Wednesday, May 22nd. John Bean Technologies’s dividend payout ratio (DPR) is 9.35%.
About John Bean Technologies
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.
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