John Bean Technologies Co. (NYSE:JBT) to Post Q2 2024 Earnings of $1.14 Per Share, Zacks Research Forecasts

John Bean Technologies Co. (NYSE:JBT) – Investment analysts at Zacks Research lifted their Q2 2024 earnings per share estimates for shares of John Bean Technologies in a research report issued on Monday, November 6th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $1.14 for the quarter, up from their previous forecast of $1.12. The consensus estimate for John Bean Technologies’ current full-year earnings is $4.01 per share. Zacks Research also issued estimates for John Bean Technologies’ Q3 2024 earnings at $1.06 EPS, Q2 2025 earnings at $1.43 EPS and Q3 2025 earnings at $1.43 EPS.

John Bean Technologies (NYSE:JBT) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.99 by $0.12. The company had revenue of $403.60 million during the quarter, compared to the consensus estimate of $416.38 million. John Bean Technologies had a return on equity of 14.32% and a net margin of 28.66%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $1.27 EPS.

Several other research firms have also issued reports on JBT. TheStreet lowered John Bean Technologies from a “b-” rating to a “c” rating in a report on Tuesday, October 24th. StockNews.com began coverage on John Bean Technologies in a report on Thursday, October 5th. They issued a “hold” rating for the company. One research analyst has rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

John Bean Technologies Stock Performance

JBT stock opened at $103.31 on Thursday. The firm has a market cap of $3.29 billion, a PE ratio of 5.91, a P/E/G ratio of 6.96 and a beta of 1.38. The company has a quick ratio of 1.48, a current ratio of 1.87 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $104.38 and a 200-day moving average of $109.79. John Bean Technologies has a 12-month low of $86.16 and a 12-month high of $125.88.

Institutional Investors Weigh In On John Bean Technologies

Several institutional investors have recently made changes to their positions in JBT. Wellington Management Group LLP lifted its position in shares of John Bean Technologies by 64.6% during the first quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock worth $218,546,000 after acquiring an additional 723,720 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of John Bean Technologies by 109.9% during the third quarter. Victory Capital Management Inc. now owns 826,544 shares of the industrial products company’s stock worth $86,903,000 after acquiring an additional 432,822 shares in the last quarter. Norges Bank purchased a new stake in shares of John Bean Technologies during the fourth quarter worth $37,359,000. Comerica Bank purchased a new stake in shares of John Bean Technologies in the second quarter worth $351,470,000. Finally, P2 Capital Partners LLC purchased a new stake in shares of John Bean Technologies in the first quarter worth $20,355,000. Hedge funds and other institutional investors own 98.19% of the company’s stock.

About John Bean Technologies

John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries in North America, Europe, Middle East, Africa, Asia Pacific, and Latin America. The company operates through two segments: FoodTech and AeroTech. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, foaming, portioning, coating, cooking, frying, freezing, weighing, and inspection.