John Bean Technologies (NYSE:JBT) Releases FY24 Earnings Guidance

John Bean Technologies (NYSE:JBT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.05-5.45 for the period, compared to the consensus earnings per share estimate of $5.16. The company issued revenue guidance of $1.735-1.765 billion, compared to the consensus revenue estimate of $1.76 billion.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird restated an outperform rating and set a $121.00 price target on shares of John Bean Technologies in a research note on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, John Bean Technologies currently has a consensus rating of Moderate Buy and a consensus price target of $121.00.

John Bean Technologies Price Performance

Shares of John Bean Technologies stock traded down $0.25 during mid-day trading on Wednesday, reaching $88.84. 409,988 shares of the stock were exchanged, compared to its average volume of 218,643. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 4.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. John Bean Technologies has a fifty-two week low of $88.03 and a fifty-two week high of $125.88. The company has a current ratio of 2.27, a quick ratio of 1.78 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $98.00 and a 200 day simple moving average of $100.30.

John Bean Technologies (NYSE:JBT) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.36 by $0.04. John Bean Technologies had a return on equity of 12.15% and a net margin of 33.53%. The business had revenue of $444.60 million for the quarter, compared to the consensus estimate of $445.81 million. During the same period in the previous year, the business earned $1.49 EPS. John Bean Technologies’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts predict that John Bean Technologies will post 5.1 EPS for the current fiscal year.

John Bean Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were paid a $0.10 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. John Bean Technologies’s dividend payout ratio (DPR) is presently 2.12%.

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.