John Bean Technologies Corp (JBT) Expected to Announce Earnings of $1.11 Per Share

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Equities analysts expect John Bean Technologies Corp (NYSE:JBT) to report $1.11 earnings per share for the current quarter, according to Zacks. Six analysts have provided estimates for John Bean Technologies’ earnings. The highest EPS estimate is $1.14 and the lowest is $1.09. John Bean Technologies posted earnings of $0.82 per share during the same quarter last year, which suggests a positive year over year growth rate of 35.4%. The company is scheduled to report its next earnings report after the market closes on Monday, October 22nd.

On average, analysts expect that John Bean Technologies will report full year earnings of $4.03 per share for the current year, with EPS estimates ranging from $3.99 to $4.10. For the next fiscal year, analysts anticipate that the company will post earnings of $4.53 per share, with EPS estimates ranging from $4.30 to $4.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover John Bean Technologies.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.19. John Bean Technologies had a net margin of 4.43% and a return on equity of 26.58%. The firm had revenue of $491.30 million during the quarter, compared to the consensus estimate of $474.59 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis.

Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of John Bean Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. downgraded shares of John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 price target for the company. in a research report on Friday, September 21st. Zacks Investment Research downgraded shares of John Bean Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. BMO Capital Markets upped their price target on shares of John Bean Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 31st. Finally, TheStreet upgraded shares of John Bean Technologies from a “c+” rating to an “a-” rating in a research report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. John Bean Technologies presently has a consensus rating of “Hold” and a consensus target price of $106.14.

Shares of JBT traded down $2.10 during mid-day trading on Friday, hitting $109.60. 243,839 shares of the company were exchanged, compared to its average volume of 198,388. John Bean Technologies has a 1-year low of $84.81 and a 1-year high of $123.90. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 1.06. The company has a market cap of $3.77 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in John Bean Technologies by 8.3% in the 2nd quarter. BlackRock Inc. now owns 4,366,522 shares of the industrial products company’s stock valued at $388,186,000 after acquiring an additional 333,968 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in John Bean Technologies by 2.1% in the 2nd quarter. Eagle Asset Management Inc. now owns 921,199 shares of the industrial products company’s stock valued at $81,894,000 after acquiring an additional 19,352 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in John Bean Technologies by 1.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 687,407 shares of the industrial products company’s stock valued at $61,110,000 after acquiring an additional 7,766 shares during the last quarter. Carillon Tower Advisers Inc. raised its holdings in John Bean Technologies by 7.9% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 684,254 shares of the industrial products company’s stock valued at $60,830,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Global X Management Co LLC raised its holdings in John Bean Technologies by 6.6% in the 2nd quarter. Global X Management Co LLC now owns 598,799 shares of the industrial products company’s stock valued at $53,233,000 after acquiring an additional 36,836 shares during the last quarter.

About John Bean Technologies

John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and 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 solutions, 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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