Q2 2024 Earnings Estimate for John Bean Technologies Co. Issued By Seaport Res Ptn (NYSE:JBT)

John Bean Technologies Co. (NYSE:JBT) – Stock analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share (EPS) estimates for shares of John Bean Technologies in a research note issued on Tuesday, July 23rd. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings per share of $1.24 for the quarter, up from their prior forecast of $1.16. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.13 per share. Seaport Res Ptn also issued estimates for John Bean Technologies’ Q3 2024 earnings at $1.31 EPS, FY2024 earnings at $5.00 EPS and FY2027 earnings at $5.80 EPS.

Separately, William Blair reissued a “market perform” rating on shares of John Bean Technologies in a research note on Thursday, May 2nd.

John Bean Technologies Price Performance

Shares of NYSE JBT opened at $100.50 on Thursday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 5.41, a PEG ratio of 1.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 2.37. John Bean Technologies has a fifty-two week low of $88.03 and a fifty-two week high of $123.82. The firm’s 50-day simple moving average is $95.63 and its 200 day simple moving average is $96.94.

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

Institutional Investors Weigh In On John Bean Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of John Bean Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,524,626 shares of the industrial products company’s stock valued at $369,698,000 after acquiring an additional 31,798 shares in the last quarter. Champlain Investment Partners LLC grew its stake in John Bean Technologies by 7.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,545,159 shares of the industrial products company’s stock valued at $162,072,000 after purchasing an additional 112,035 shares during the period. Conestoga Capital Advisors LLC grew its stake in John Bean Technologies by 2.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 951,534 shares of the industrial products company’s stock valued at $90,367,000 after purchasing an additional 24,981 shares during the period. Victory Capital Management Inc. increased its position in shares of John Bean Technologies by 6.2% during the 4th quarter. Victory Capital Management Inc. now owns 878,152 shares of the industrial products company’s stock valued at $87,332,000 after purchasing an additional 51,608 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of John Bean Technologies by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 728,649 shares of the industrial products company’s stock worth $72,467,000 after purchasing an additional 40,366 shares during the period. Hedge funds and other institutional investors own 98.92% of the company’s stock.

John Bean Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.40%. John Bean Technologies’s dividend payout ratio is currently 2.13%.

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.