John Bean Technologies Co. Forecasted to Earn Q2 2024 Earnings of $1.24 Per Share (NYSE:JBT)

John Bean Technologies Co. (NYSE:JBT) – Equities researchers at Seaport Res Ptn raised their Q2 2024 earnings estimates for John Bean Technologies in a research note issued on Tuesday, July 23rd. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings per share of $1.24 for the quarter, up from their prior forecast of $1.16. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.13 per share. Seaport Res Ptn also issued estimates for John Bean Technologies’ Q3 2024 earnings at $1.31 EPS, FY2024 earnings at $5.00 EPS and FY2027 earnings at $5.80 EPS.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $392.30 million for the quarter, compared to analyst estimates of $396.55 million. John Bean Technologies had a return on equity of 10.56% and a net margin of 36.12%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share.

Separately, William Blair reaffirmed a “market perform” rating on shares of John Bean Technologies in a research report on Thursday, May 2nd.

John Bean Technologies Price Performance

Shares of JBT opened at $100.50 on Thursday. The company has a 50 day moving average of $95.63 and a 200-day moving average of $96.94. The company has a quick ratio of 1.83, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.20 billion, a P/E ratio of 5.41, a P/E/G ratio of 1.53 and a beta of 1.27. John Bean Technologies has a twelve month low of $88.03 and a twelve month high of $123.82.

Institutional Investors Weigh In On John Bean Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in John Bean Technologies by 162.1% in the 1st quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 154 shares during the last quarter. CWM LLC boosted its stake in shares of John Bean Technologies by 113.2% during the 2nd quarter. CWM LLC now owns 324 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 172 shares during the period. Lazard Asset Management LLC acquired a new position in shares of John Bean Technologies during the 1st quarter worth approximately $61,000. SG Americas Securities LLC bought a new stake in John Bean Technologies in the 4th quarter valued at $143,000. Finally, Jump Financial LLC acquired a new stake in John Bean Technologies during the 4th quarter valued at $211,000. Institutional investors own 98.92% of the company’s stock.

John Bean Technologies Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Wednesday, May 22nd. John Bean Technologies’s dividend payout ratio (DPR) is 2.13%.

About John Bean Technologies

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.