John Bean Technologies (NYSE:JBT) Issues Earnings Results

John Bean Technologies (NYSE:JBT) released its quarterly earnings results on Tuesday. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.19), Briefing.com reports. The company had revenue of $402.30 million for the quarter, compared to analyst estimates of $432.67 million. John Bean Technologies had a net margin of 36.12% and a return on equity of 10.56%. John Bean Technologies’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. John Bean Technologies updated its FY24 guidance to $5.05-5.35 EPS and its FY 2024 guidance to 5.050-5.350 EPS.

John Bean Technologies Stock Performance

John Bean Technologies stock traded up $1.73 during mid-day trading on Wednesday, reaching $98.38. The company’s stock had a trading volume of 470,616 shares, compared to its average volume of 261,758. John Bean Technologies has a 12-month low of $88.03 and a 12-month high of $123.82. The company has a market capitalization of $3.13 billion, a P/E ratio of 5.28, a PEG ratio of 1.48 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. The firm’s fifty day moving average price is $95.90 and its two-hundred day moving average price is $97.09.

John Bean Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. John Bean Technologies’s dividend payout ratio is 2.13%.

Analyst Ratings Changes

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

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.