Equities research analysts predict that John Bean Technologies Corp (NYSE:JBT) will post sales of $486.80 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for John Bean Technologies’ earnings, with the lowest sales estimate coming in at $473.90 million and the highest estimate coming in at $498.82 million. John Bean Technologies reported sales of $420.80 million in the same quarter last year, which indicates a positive year over year growth rate of 15.7%. The business is expected to announce its next earnings report after the market closes on Monday, October 22nd.
On average, analysts expect that John Bean Technologies will report full year sales of $1.91 billion for the current year, with estimates ranging from $1.89 billion to $1.93 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.99 billion, with estimates ranging from $1.95 billion to $2.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow John Bean Technologies.
John Bean Technologies (NYSE:JBT) last issued its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.19. The company had revenue of $491.30 million for the quarter, compared to analysts’ expectations of $474.59 million. John Bean Technologies had a return on equity of 26.58% and a net margin of 4.43%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share.
A number of brokerages have commented on JBT. ValuEngine cut John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. JPMorgan Chase & Co. cut John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 price target on the stock. in a research note on Friday, September 21st. TheStreet upgraded John Bean Technologies from a “c+” rating to an “a-” rating in a research note on Thursday, July 26th. Finally, BMO Capital Markets boosted their price target on John Bean Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $106.14.
Several large investors have recently added to or reduced their stakes in JBT. Carnegie Capital Asset Management LLC acquired a new stake in John Bean Technologies during the second quarter valued at approximately $239,000. Yorktown Management & Research Co Inc acquired a new stake in John Bean Technologies during the second quarter valued at approximately $249,000. PEAK6 Investments L.P. raised its stake in John Bean Technologies by 203.6% during the second quarter. PEAK6 Investments L.P. now owns 3,106 shares of the industrial products company’s stock valued at $276,000 after buying an additional 6,104 shares in the last quarter. Diversified Trust Co acquired a new stake in John Bean Technologies during the second quarter valued at approximately $289,000. Finally, First Midwest Bank Trust Division raised its stake in John Bean Technologies by 11.9% during the second quarter. First Midwest Bank Trust Division now owns 4,662 shares of the industrial products company’s stock valued at $414,000 after buying an additional 494 shares in the last quarter.
Shares of JBT opened at $109.60 on Monday. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 1.84 and a beta of 1.18. John Bean Technologies has a 12 month low of $84.81 and a 12 month high of $123.90. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 1.33.
John Bean Technologies Company Profile
John Bean Technologies Corporation designs, manufactures, tests, installs, and services products and systems for the food and beverage, and air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments. It provides chilling, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, frying, freezing, weighing solutions, X-ray food inspection, and packaging systems for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; solutions to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices; and solutions for the filling, closing, and preservation of fruits, vegetables, soups, sauces, and dairy and pet food products, as well as ready-to-eat meals.
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