Analysts Anticipate John Bean Technologies Co. (NYSE:JBT) Will Post Quarterly Sales of $451.80 Million

Wall Street brokerages expect that John Bean Technologies Co. (NYSE:JBT) will report $451.80 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for John Bean Technologies’ earnings. The highest sales estimate is $454.50 million and the lowest is $450.20 million. John Bean Technologies posted sales of $411.50 million during the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The company is expected to report its next earnings results on Monday, July 26th.

According to Zacks, 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 year, analysts anticipate that the company will report sales of $2.00 billion, with estimates ranging from $1.93 billion to $2.07 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow John Bean Technologies.

John Bean Technologies (NYSE:JBT) last posted its earnings results on Sunday, April 25th. The industrial products company reported $0.90 EPS for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $418.81 million. During the same quarter in the prior year, the firm earned $1.01 EPS. John Bean Technologies’s quarterly revenue was down 8.7% on a year-over-year basis.

Several research firms have recently issued reports on JBT. Wells Fargo & Company increased their price objective on shares of John Bean Technologies from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, April 28th. Zacks Investment Research upgraded shares of John Bean Technologies from a “strong sell” rating to a “hold” rating and set a $154.00 price objective for the company in a report on Thursday, February 25th. William Blair reiterated an “outperform” rating on shares of John Bean Technologies in a report on Tuesday, February 23rd. Robert W. Baird upgraded shares of John Bean Technologies from a “neutral” rating to an “outperform” rating and set a $151.00 price objective for the company in a report on Wednesday, May 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of John Bean Technologies from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, April 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. John Bean Technologies presently has a consensus rating of “Buy” and an average price target of $140.80.

In related news, Director Caroline Maury Devine sold 236 shares of the company’s stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $139.36, for a total value of $32,888.96. Following the completion of the sale, the director now owns 49,879 shares in the company, valued at approximately $6,951,137.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jason T. Clayton sold 1,689 shares of the company’s stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $135.15, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 6,369 shares of company stock valued at $906,545. 2.00% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in JBT. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in John Bean Technologies by 10.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,964 shares of the industrial products company’s stock worth $451,000 after buying an additional 383 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of John Bean Technologies by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 4,199 shares of the industrial products company’s stock worth $478,000 after purchasing an additional 264 shares during the last quarter. First Trust Advisors LP increased its stake in shares of John Bean Technologies by 38.2% during the 4th quarter. First Trust Advisors LP now owns 20,140 shares of the industrial products company’s stock worth $2,293,000 after purchasing an additional 5,568 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of John Bean Technologies by 11.0% during the 4th quarter. California Public Employees Retirement System now owns 79,818 shares of the industrial products company’s stock worth $9,089,000 after purchasing an additional 7,892 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in John Bean Technologies by 2.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 79,329 shares of the industrial products company’s stock valued at $9,033,000 after buying an additional 1,678 shares during the last quarter. Institutional investors own 97.80% of the company’s stock.

Shares of John Bean Technologies stock 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. The business has a 50-day simple moving average of $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 stock has a market cap of $4.46 billion, a P/E ratio of 42.00, a PEG ratio of 2.24 and a beta of 1.59. John Bean Technologies has a 52 week low of $73.46 and a 52 week high of $151.64.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Thursday, May 27th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Wednesday, May 26th. John Bean Technologies’s payout ratio is 10.15%.

About John Bean Technologies

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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