William Blair Weighs in on John Bean Technologies Co.’s Q3 2024 Earnings (NYSE:JBT)

John Bean Technologies Co. (NYSE:JBT) – Analysts at William Blair raised their Q3 2024 earnings estimates for John Bean Technologies in a research report issued on Thursday, August 1st. William Blair analyst R. Sparenblek now anticipates that the industrial products company will post earnings per share of $1.41 for the quarter, up from their previous estimate of $1.36. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.18 per share. William Blair also issued estimates for John Bean Technologies’ Q4 2024 earnings at $1.84 EPS and FY2024 earnings at $5.15 EPS.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.19). The business had revenue of $402.30 million during the quarter, compared to analysts’ expectations of $432.67 million. John Bean Technologies had a return on equity of 9.67% and a net margin of 36.66%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share.

John Bean Technologies Price Performance

Shares of JBT stock opened at $93.87 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.54 and a quick ratio of 1.83. The firm’s 50-day moving average is $96.05 and its two-hundred day moving average is $97.09. John Bean Technologies has a 12 month low of $88.03 and a 12 month high of $114.30. The company has a market capitalization of $2.99 billion, a PE ratio of 5.01, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27.

Hedge Funds Weigh In On John Bean Technologies

A number of institutional investors have recently bought and sold shares of the company. UMB Bank n.a. raised its stake in John Bean Technologies by 162.1% during the first quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 154 shares during the period. CWM LLC raised its stake in John Bean Technologies by 113.2% during the second quarter. CWM LLC now owns 324 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 172 shares during the period. Wrapmanager Inc. raised its stake in John Bean Technologies by 5.4% during the fourth quarter. Wrapmanager Inc. now owns 3,515 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 180 shares during the period. Diversified Trust Co raised its stake in shares of John Bean Technologies by 1.4% in the 2nd quarter. Diversified Trust Co now owns 13,400 shares of the industrial products company’s stock valued at $1,273,000 after acquiring an additional 184 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of John Bean Technologies by 8.0% in the 4th quarter. QRG Capital Management Inc. now owns 2,651 shares of the industrial products company’s stock valued at $264,000 after acquiring an additional 197 shares during the period. 98.92% of the stock is owned by hedge funds and other institutional investors.

John Bean Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Wednesday, May 22nd. John Bean Technologies’s dividend payout ratio (DPR) is presently 2.13%.

John Bean Technologies Company Profile

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.