Brokerages Anticipate John Bean Technologies Co. (NYSE:JBT) Will Post Earnings of $1.00 Per Share

Brokerages expect John Bean Technologies Co. (NYSE:JBT) to report earnings per share (EPS) of $1.00 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for John Bean Technologies’ earnings, with estimates ranging from $0.96 to $1.05. John Bean Technologies posted earnings per share of $1.09 during the same quarter last year, which suggests a negative year over year growth rate of 8.3%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, July 27th.

On average, analysts expect that John Bean Technologies will report full year earnings of $4.58 per share for the current year, with EPS estimates ranging from $4.50 to $4.61. For the next year, analysts forecast that the company will report earnings of $5.46 per share, with EPS estimates ranging from $5.10 to $5.86. Zacks’ earnings per share averages are an 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 Sunday, April 25th. The industrial products company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $417.80 million for the quarter, compared to analyst estimates of $418.81 million. John Bean Technologies had a return on equity of 19.53% and a net margin of 6.33%. The firm’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share.

Several research analysts have commented on JBT shares. Wells Fargo & Company lifted their price target on John Bean Technologies from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 28th. JPMorgan Chase & Co. lifted their price target on John Bean Technologies from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 14th. Finally, Robert W. Baird upgraded John Bean Technologies from a “neutral” rating to an “outperform” rating and set a $151.00 target price on the stock in a research note on Wednesday, May 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. John Bean Technologies currently has a consensus rating of “Buy” and a consensus price target of $140.80.

JBT traded down $2.84 during trading on Friday, hitting $135.26. 292 shares of the stock were exchanged, compared to its average volume of 234,910. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 2.10 and a beta of 1.58. John Bean Technologies has a 1-year low of $80.74 and a 1-year high of $151.64. The company’s fifty day simple moving average is $138.68. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.70.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Thursday, May 27th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, May 26th. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. John Bean Technologies’s payout ratio is 10.15%.

In other news, Director Polly B. Kawalek sold 1,800 shares of the business’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $145.56, for a total value of $262,008.00. Following the completion of the transaction, the director now directly owns 67,820 shares of the company’s stock, valued at $9,871,879.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Caroline Maury Devine sold 300 shares of the business’s stock in a transaction on Monday, July 19th. The stock was sold at an average price of $131.22, for a total value of $39,366.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,044 shares of company stock worth $1,387,109. 2.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in John Bean Technologies by 1.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,766 shares of the industrial products company’s stock valued at $1,681,000 after purchasing an additional 150 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in John Bean Technologies during the fourth quarter worth about $330,000. Citigroup Inc. increased its stake in John Bean Technologies by 194.6% during the fourth quarter. Citigroup Inc. now owns 9,177 shares of the industrial products company’s stock worth $1,045,000 after acquiring an additional 6,062 shares during the last quarter. Credit Suisse AG increased its stake in John Bean Technologies by 29.3% during the fourth quarter. Credit Suisse AG now owns 44,971 shares of the industrial products company’s stock worth $5,121,000 after acquiring an additional 10,195 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in John Bean Technologies by 3.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 18,605 shares of the industrial products company’s stock worth $2,119,000 after acquiring an additional 678 shares during the last quarter. 99.73% of the stock is owned by institutional investors.

John Bean Technologies Company Profile

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 offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, and X-ray food inspection.

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

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