William Blair Weighs in on John Bean Technologies Co.’s Q3 2024 Earnings (NYSE:JBT)

John Bean Technologies Co. (NYSE:JBT) – Equities researchers at William Blair upped their Q3 2024 EPS estimates for John Bean Technologies in a report issued on Thursday, August 1st. William Blair analyst R. Sparenblek now anticipates that the industrial products company will post earnings per share of $1.41 for the quarter, up from their prior estimate of $1.36. William Blair has a “Market Perform” rating on the stock. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.18 per share. William Blair also issued estimates for John Bean Technologies’ Q4 2024 earnings at $1.84 EPS and FY2024 earnings at $5.15 EPS.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.19). John Bean Technologies had a return on equity of 9.67% and a net margin of 36.66%. The business had revenue of $402.30 million for the quarter, compared to analyst estimates of $432.67 million. During the same quarter last year, the business earned $0.97 EPS. John Bean Technologies’s revenue for the quarter was down 5.9% compared to the same quarter last year.

John Bean Technologies Stock Performance

NYSE JBT opened at $93.87 on Friday. The business’s 50-day moving average price is $96.05 and its 200 day moving average price is $97.09. John Bean Technologies has a twelve month low of $88.03 and a twelve month high of $114.30. The company has a market capitalization of $2.99 billion, a PE ratio of 5.01, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a current ratio of 2.54, a quick ratio of 1.83 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On John Bean Technologies

Several large investors have recently added to or reduced their stakes in JBT. UMB Bank n.a. lifted its position in John Bean Technologies by 162.1% during the first quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $26,000 after buying an additional 154 shares during the period. CWM LLC increased its stake in John Bean Technologies by 113.2% during the second quarter. CWM LLC now owns 324 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 172 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of John Bean Technologies in the 1st quarter worth about $61,000. Innealta Capital LLC acquired a new position in shares of John Bean Technologies in the 2nd quarter valued at about $73,000. Finally, SG Americas Securities LLC purchased a new stake in shares of John Bean Technologies during the 4th quarter worth about $143,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

John Bean Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.40 annualized dividend and a yield of 0.43%. John Bean Technologies’s dividend payout ratio (DPR) is presently 2.13%.

John Bean Technologies Company Profile

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.