Equities research analysts expect John Bean Technologies Co. (NYSE:JBT) to announce sales of $451.80 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for John Bean Technologies’ earnings. The lowest sales estimate is $450.20 million and the highest is $454.50 million. John Bean Technologies reported sales of $411.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.8%. The company is expected to announce its next quarterly earnings report on Monday, July 26th.
On average, analysts expect that John Bean Technologies will report full-year sales of $1.85 billion for the current fiscal year, with estimates ranging from $1.83 billion to $1.86 billion. For the next fiscal year, analysts expect that the business will report sales of $2.00 billion, with estimates ranging from $1.93 billion to $2.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover John Bean Technologies.
John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Sunday, April 25th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.12. John Bean Technologies had a net margin of 6.33% and a return on equity of 19.53%. The firm had revenue of $417.80 million for the quarter, compared to analyst estimates of $418.81 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year.
In related news, EVP Jason T. Clayton sold 1,689 shares of John Bean Technologies stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $135.15, for a total value of $228,268.35. Following the completion of the sale, the executive vice president now owns 17,007 shares of the company’s stock, valued at approximately $2,298,496.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Caroline Maury Devine sold 236 shares of John Bean Technologies stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $139.36, for a total transaction of $32,888.96. Following the completion of the sale, the director now directly owns 49,879 shares of the company’s stock, valued at approximately $6,951,137.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,369 shares of company stock valued at $906,545. Insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of JBT. Oak Ridge Investments LLC grew its position in John Bean Technologies by 731.5% in the 1st quarter. Oak Ridge Investments LLC now owns 479,167 shares of the industrial products company’s stock valued at $63,892,000 after purchasing an additional 421,539 shares during the period. Norges Bank bought a new position in John Bean Technologies during the 4th quarter valued at $38,671,000. BlackRock Inc. lifted its stake in John Bean Technologies by 5.4% during the 1st quarter. BlackRock Inc. now owns 5,217,118 shares of the industrial products company’s stock valued at $695,649,000 after acquiring an additional 266,258 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in John Bean Technologies by 133.4% during the 1st quarter. Nuveen Asset Management LLC now owns 353,546 shares of the industrial products company’s stock valued at $47,142,000 after acquiring an additional 202,089 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in John Bean Technologies by 440.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 211,150 shares of the industrial products company’s stock valued at $28,155,000 after acquiring an additional 172,096 shares in the last quarter. 97.80% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:JBT traded up $0.70 on Tuesday, hitting $140.57. The company had a trading volume of 5,318 shares, compared to its average volume of 177,549. John Bean Technologies has a 1-year low of $73.46 and a 1-year high of $151.64. The company has a market cap of $4.46 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.24 and a beta of 1.59. The stock’s 50 day moving average is $139.57. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Thursday, May 27th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, May 26th. John Bean Technologies’s dividend payout ratio (DPR) is 10.15%.
John Bean Technologies Company Profile
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, and X-ray food inspection.
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