John Bean Technologies Co. to Post Q1 2024 Earnings of $0.82 Per Share, Seaport Res Ptn Forecasts (NYSE:JBT)

John Bean Technologies Co. (NYSE:JBT) – Seaport Res Ptn cut their Q1 2024 EPS estimates for John Bean Technologies in a research note issued to investors on Tuesday, April 16th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings of $0.82 per share for the quarter, down from their previous forecast of $1.11. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.15 per share. Seaport Res Ptn also issued estimates for John Bean Technologies’ Q4 2024 earnings at $1.84 EPS, FY2024 earnings at $5.08 EPS, Q1 2025 earnings at $0.96 EPS, Q2 2025 earnings at $1.32 EPS and Q4 2025 earnings at $2.06 EPS.

Separately, Robert W. Baird restated an “outperform” rating and set a $121.00 price target on shares of John Bean Technologies in a research report on Monday, January 22nd. One analyst has rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

John Bean Technologies Stock Down 0.6 %

John Bean Technologies stock opened at $89.61 on Thursday. The company has a 50-day simple moving average of $100.02 and a 200-day simple moving average of $101.06. The firm has a market capitalization of $2.85 billion, a P/E ratio of 4.76, a P/E/G ratio of 1.43 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.78 and a current ratio of 2.27. John Bean Technologies has a one year low of $88.97 and a one year high of $125.88.

John Bean Technologies (NYSE:JBT) last released its earnings results on Wednesday, February 21st. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.04. John Bean Technologies had a net margin of 33.53% and a return on equity of 12.15%. The firm had revenue of $444.60 million during the quarter, compared to analyst estimates of $445.81 million. During the same quarter in the previous year, the firm earned $1.49 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year.

Hedge Funds Weigh In On John Bean Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of JBT. US Bancorp DE lifted its holdings in John Bean Technologies by 3.6% in the 1st quarter. US Bancorp DE now owns 5,821 shares of the industrial products company’s stock valued at $689,000 after acquiring an additional 200 shares during the last quarter. HighTower Advisors LLC increased its holdings in John Bean Technologies by 4.6% in the first quarter. HighTower Advisors LLC now owns 6,476 shares of the industrial products company’s stock worth $761,000 after buying an additional 282 shares during the last quarter. Private Advisor Group LLC increased its holdings in John Bean Technologies by 6.7% in the first quarter. Private Advisor Group LLC now owns 2,992 shares of the industrial products company’s stock worth $354,000 after buying an additional 188 shares during the last quarter. Citigroup Inc. increased its holdings in John Bean Technologies by 11.5% in the first quarter. Citigroup Inc. now owns 30,180 shares of the industrial products company’s stock worth $3,575,000 after buying an additional 3,120 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in John Bean Technologies by 55.8% during the first quarter. MetLife Investment Management LLC now owns 16,840 shares of the industrial products company’s stock valued at $1,995,000 after purchasing an additional 6,030 shares during the last quarter. Institutional investors own 98.92% of the company’s stock.

John Bean Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.45%. John Bean Technologies’s dividend payout ratio is currently 2.12%.

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.