$486.74 Million in Sales Expected for John Bean Technologies Corp (JBT) This Quarter

Wall Street analysts expect John Bean Technologies Corp (NYSE:JBT) to post sales of $486.74 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for John Bean Technologies’ earnings. The lowest sales estimate is $473.90 million and the highest is $498.82 million. John Bean Technologies reported sales of $420.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.7%. The company is scheduled to issue its next quarterly earnings report on Monday, October 22nd.

On average, analysts expect that John Bean Technologies will report full year sales of $1.91 billion for the current year, with estimates ranging from $1.89 billion to $1.93 billion. For the next financial year, analysts anticipate that the business will report sales of $1.99 billion per share, with estimates ranging from $1.94 billion to $2.04 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for John Bean Technologies.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. The business had revenue of $491.30 million for the quarter, compared to analyst estimates of $474.59 million. John Bean Technologies had a return on equity of 26.58% and a net margin of 4.43%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share.

JBT has been the topic of a number of analyst reports. ValuEngine raised John Bean Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research lowered John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. TheStreet raised John Bean Technologies from a “c+” rating to an “a-” rating in a research note on Thursday, July 26th. JPMorgan Chase & Co. lowered John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 price target on the stock. in a research note on Friday. Finally, BMO Capital Markets raised their price target on John Bean Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $106.14.

Shares of JBT traded down $0.50 during trading hours on Friday, reaching $116.95. 4,071 shares of the company traded hands, compared to its average volume of 163,823. 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 firm has a market cap of $3.71 billion, a P/E ratio of 37.75, a PEG ratio of 1.81 and a beta of 1.21. John Bean Technologies has a fifty-two week low of $84.81 and a fifty-two week high of $123.90.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 20th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.34%. This is a positive change from John Bean Technologies’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, August 17th. John Bean Technologies’s dividend payout ratio (DPR) is presently 12.90%.

Large investors have recently modified their holdings of the business. Confluence Investment Management LLC boosted its stake in John Bean Technologies by 102.6% in the 2nd quarter. Confluence Investment Management LLC now owns 52,643 shares of the industrial products company’s stock worth $4,680,000 after buying an additional 26,655 shares during the last quarter. Suffolk Capital Management LLC boosted its stake in John Bean Technologies by 38.8% in the 2nd quarter. Suffolk Capital Management LLC now owns 10,175 shares of the industrial products company’s stock worth $905,000 after buying an additional 2,845 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake 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 worth $61,110,000 after buying an additional 7,766 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 19,352 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of John Bean Technologies by 6.1% in the 1st quarter. Allianz Asset Management GmbH now owns 85,652 shares of the industrial products company’s stock valued at $9,713,000 after purchasing an additional 4,918 shares in the last quarter.

John Bean Technologies Company Profile

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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