Analysts Expect John Bean Technologies Corp (JBT) to Announce $1.08 Earnings Per Share

Brokerages predict that John Bean Technologies Corp (NYSE:JBT) will post earnings of $1.08 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for John Bean Technologies’ earnings, with the lowest EPS estimate coming in at $1.05 and the highest estimate coming in at $1.13. John Bean Technologies posted earnings of $1.24 per share during the same quarter last year, which suggests a negative year over year growth rate of 12.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that John Bean Technologies will report full-year earnings of $4.48 per share for the current financial year, with EPS estimates ranging from $4.30 to $4.55. For the next fiscal year, analysts anticipate that the business will report earnings of $5.03 per share, with EPS estimates ranging from $4.83 to $5.37. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover John Bean Technologies.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.31. John Bean Technologies had a net margin of 6.36% and a return on equity of 34.12%. The company had revenue of $417.50 million for the quarter, compared to analyst estimates of $390.44 million. During the same quarter last year, the business earned $0.34 EPS. John Bean Technologies’s revenue for the quarter was up 2.0% on a year-over-year basis.

A number of brokerages have recently commented on JBT. ValuEngine raised shares of John Bean Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Co lifted their price target on shares of John Bean Technologies from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Zacks Investment Research raised shares of John Bean Technologies from a “hold” rating to a “strong-buy” rating and set a $117.00 price target on the stock in a research note on Wednesday, May 1st. Wellington Shields downgraded shares of John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, TheStreet raised shares of John Bean Technologies from a “c+” rating to a “b” rating in a research note on Tuesday, February 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $103.60.

Shares of JBT stock traded down $2.34 during mid-day trading on Wednesday, reaching $110.48. The company’s stock had a trading volume of 135,787 shares, compared to its average volume of 195,757. John Bean Technologies has a 12-month low of $66.28 and a 12-month high of $123.90. The company has a current ratio of 1.38, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94. The company has a market cap of $3.62 billion, a PE ratio of 25.81, a P/E/G ratio of 2.27 and a beta of 1.47.

In other John Bean Technologies news, EVP James L. Marvin sold 1,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were 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 directly owns 24,679 shares of the company’s stock, valued at approximately $2,283,547.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.23% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in shares of John Bean Technologies by 66.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 19,637 shares of the industrial products company’s stock worth $1,410,000 after purchasing an additional 7,850 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of John Bean Technologies by 293,356.3% in the third quarter. Federated Investors Inc. PA now owns 46,953 shares of the industrial products company’s stock worth $5,601,000 after acquiring an additional 46,937 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of John Bean Technologies by 1.7% in the first quarter. Conestoga Capital Advisors LLC now owns 724,222 shares of the industrial products company’s stock worth $66,549,000 after acquiring an additional 12,207 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of John Bean Technologies by 367.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,195 shares of the industrial products company’s stock worth $732,000 after acquiring an additional 8,016 shares in the last quarter. Finally, Vanguard Group Inc increased its position in shares of John Bean Technologies by 1.8% in the third quarter. Vanguard Group Inc now owns 3,148,909 shares of the industrial products company’s stock worth $375,664,000 after acquiring an additional 56,258 shares in the last quarter.

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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