Q2 2024 EPS Estimates for John Bean Technologies Co. (NYSE:JBT) Lifted by Zacks Research

John Bean Technologies Co. (NYSE:JBT) – Stock analysts at Zacks Research upped their Q2 2024 earnings per share estimates for shares of John Bean Technologies in a note issued to investors on Tuesday, May 21st. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings per share of $1.24 for the quarter, up from their prior estimate of $1.17. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.15 per share. Zacks Research also issued estimates for John Bean Technologies’ Q3 2024 earnings at $1.32 EPS, Q4 2024 earnings at $1.73 EPS, FY2024 earnings at $5.14 EPS, Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $1.36 EPS, Q3 2025 earnings at $1.37 EPS, Q1 2026 earnings at $1.01 EPS and FY2026 earnings at $5.77 EPS.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. John Bean Technologies had a net margin of 36.12% and a return on equity of 10.56%. The business had revenue of $392.30 million for the quarter, compared to the consensus estimate of $396.55 million. During the same period last year, the firm earned $0.94 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis.

Separately, William Blair reissued a “market perform” rating on shares of John Bean Technologies in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, John Bean Technologies has an average rating of “Hold” and an average price target of $121.00.

John Bean Technologies Stock Performance

Shares of JBT stock opened at $92.43 on Wednesday. The company has a market cap of $2.94 billion, a PE ratio of 4.93, a PEG ratio of 1.45 and a beta of 1.29. The company has a current ratio of 2.37, a quick ratio of 1.83 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $95.14 and its 200-day simple moving average is $99.28. John Bean Technologies has a 12-month low of $88.03 and a 12-month high of $125.88.

John Bean Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Wednesday, May 22nd. John Bean Technologies’s payout ratio is presently 2.13%.

Institutional Trading of John Bean Technologies

Large investors have recently made changes to their positions in the company. California Public Employees Retirement System increased its position in shares of John Bean Technologies by 3.2% in the 3rd quarter. California Public Employees Retirement System now owns 69,718 shares of the industrial products company’s stock valued at $7,330,000 after purchasing an additional 2,189 shares during the last quarter. Victory Capital Management Inc. raised its stake in John Bean Technologies by 109.9% in the third quarter. Victory Capital Management Inc. now owns 826,544 shares of the industrial products company’s stock valued at $86,903,000 after buying an additional 432,822 shares in the last quarter. Wrapmanager Inc. lifted its holdings in John Bean Technologies by 8.0% during the 3rd quarter. Wrapmanager Inc. now owns 3,335 shares of the industrial products company’s stock worth $351,000 after buying an additional 247 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of John Bean Technologies in the 3rd quarter valued at about $1,994,000. Finally, Arizona State Retirement System raised its position in shares of John Bean Technologies by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 9,060 shares of the industrial products company’s stock worth $953,000 after acquiring an additional 123 shares in the last quarter. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

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.