Brokerages Anticipate John Bean Technologies Corp (JBT) Will Post Quarterly Sales of $469.15 Million
Equities analysts forecast that John Bean Technologies Corp (NYSE:JBT) will report sales of $469.15 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for John Bean Technologies’ earnings, with the lowest sales estimate coming in at $466.84 million and the highest estimate coming in at $473.10 million. John Bean Technologies posted sales of $405.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.8%. The firm is expected to issue its next earnings results on Monday, February 26th.
On average, analysts expect that John Bean Technologies will report full year sales of $469.15 million for the current year. For the next fiscal year, analysts anticipate that the business will report sales of $1.75 billion per share, with estimates ranging from $1.73 billion to $1.78 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover John Bean Technologies.
John Bean Technologies (NYSE:JBT) last announced its earnings results on Monday, October 23rd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $420.80 million during the quarter, compared to analysts’ expectations of $414.17 million. John Bean Technologies had a return on equity of 25.51% and a net margin of 5.41%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share.
A number of equities research analysts have issued reports on JBT shares. Zacks Investment Research raised John Bean Technologies from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a research report on Thursday, October 26th. Robert W. Baird increased their price objective on John Bean Technologies from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Finally, Bank of America cut John Bean Technologies from a “neutral” rating to an “underperform” rating in a research report on Friday, December 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. John Bean Technologies presently has an average rating of “Hold” and a consensus target price of $105.14.
Shares of John Bean Technologies (NYSE JBT) traded down $0.25 during trading on Friday, reaching $110.35. The company’s stock had a trading volume of 160,363 shares, compared to its average volume of 143,779. The company has a market capitalization of $3,483.53, a PE ratio of 38.86, a P/E/G ratio of 2.04 and a beta of 1.36. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.91. John Bean Technologies has a 52-week low of $80.70 and a 52-week high of $120.55.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. John Bean Technologies’s dividend payout ratio is 14.81%.
Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in shares of John Bean Technologies by 7.2% in the second quarter. State Street Corp now owns 776,821 shares of the industrial products company’s stock valued at $76,130,000 after acquiring an additional 51,939 shares during the period. Neuberger Berman Group LLC lifted its position in John Bean Technologies by 25.0% in the second quarter. Neuberger Berman Group LLC now owns 12,500 shares of the industrial products company’s stock worth $1,225,000 after purchasing an additional 2,500 shares during the period. Century Capital Management LLC lifted its position in John Bean Technologies by 14.0% in the second quarter. Century Capital Management LLC now owns 18,084 shares of the industrial products company’s stock worth $1,772,000 after purchasing an additional 2,218 shares during the period. The Manufacturers Life Insurance Company lifted its position in John Bean Technologies by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 24,014 shares of the industrial products company’s stock worth $2,354,000 after purchasing an additional 1,736 shares during the period. Finally, Wells Fargo & Company MN lifted its position in John Bean Technologies by 6.9% in the second quarter. Wells Fargo & Company MN now owns 1,667,276 shares of the industrial products company’s stock worth $163,393,000 after purchasing an additional 106,955 shares during the period. 99.26% of the stock is owned by institutional investors.
About John Bean Technologies
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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