John Bean Technologies Co. Expected to Post Q2 2024 Earnings of $1.16 Per Share (NYSE:JBT)

John Bean Technologies Co. (NYSE:JBT) – Equities research analysts at Seaport Res Ptn raised their Q2 2024 earnings per share (EPS) estimates for John Bean Technologies in a research report issued to clients and investors on Tuesday, April 16th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will earn $1.16 per share for the quarter, up from their prior estimate of $1.15. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.15 per share. Seaport Res Ptn also issued estimates for John Bean Technologies’ Q3 2024 earnings at $1.26 EPS, Q3 2025 earnings at $1.43 EPS and FY2025 earnings at $5.77 EPS.

Separately, Robert W. Baird reaffirmed an “outperform” rating and issued a $121.00 price target on shares of John Bean Technologies in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, John Bean Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

John Bean Technologies Stock Performance

Shares of JBT stock opened at $89.61 on Wednesday. The stock has a fifty day moving average of $100.02 and a 200 day moving average of $101.06. John Bean Technologies has a 52 week low of $88.97 and a 52 week high of $125.88. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 4.76, a PEG ratio of 1.43 and a beta of 1.29. The company has a quick ratio of 1.78, a current ratio of 2.27 and a debt-to-equity ratio of 0.43.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.04. John Bean Technologies had a return on equity of 12.15% and a net margin of 33.53%. The firm had revenue of $444.60 million during the quarter, compared to analyst estimates of $445.81 million. During the same quarter in the prior year, the firm posted $1.49 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year.

Hedge Funds Weigh In On John Bean Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in JBT. US Bancorp DE lifted its position in John Bean Technologies by 3.6% during the first quarter. US Bancorp DE now owns 5,821 shares of the industrial products company’s stock valued at $689,000 after buying an additional 200 shares during the period. HighTower Advisors LLC increased its holdings in shares of John Bean Technologies by 4.6% during the first quarter. HighTower Advisors LLC now owns 6,476 shares of the industrial products company’s stock valued at $761,000 after acquiring an additional 282 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of John Bean Technologies by 6.7% during the first quarter. Private Advisor Group LLC now owns 2,992 shares of the industrial products company’s stock valued at $354,000 after acquiring an additional 188 shares in the last quarter. Citigroup Inc. increased its holdings in shares of John Bean Technologies by 11.5% during the first quarter. Citigroup Inc. now owns 30,180 shares of the industrial products company’s stock valued at $3,575,000 after acquiring an additional 3,120 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of John Bean Technologies by 55.8% during the first quarter. MetLife Investment Management LLC now owns 16,840 shares of the industrial products company’s stock valued at $1,995,000 after acquiring an additional 6,030 shares in the last quarter. Hedge funds and other institutional investors own 98.92% of the company’s stock.

John Bean Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, March 8th. John Bean Technologies’s dividend payout ratio is currently 2.12%.

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.