Zacks Research Has Positive Outlook of JBT FY2024 Earnings

John Bean Technologies Co. (NYSE:JBT) – Stock analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of John Bean Technologies in a research note issued on Tuesday, November 12th. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings per share of $5.19 for the year, up from their previous forecast of $5.14. The consensus estimate for John Bean Technologies’ current full-year earnings is $5.23 per share. Zacks Research also issued estimates for John Bean Technologies’ Q4 2024 earnings at $1.79 EPS, Q4 2025 earnings at $1.88 EPS, FY2025 earnings at $5.61 EPS and FY2026 earnings at $5.79 EPS.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $453.80 million during the quarter, compared to analysts’ expectations of $442.20 million. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.11 earnings per share.

John Bean Technologies Stock Performance

Shares of NYSE:JBT opened at $116.42 on Thursday. John Bean Technologies has a 1 year low of $82.64 and a 1 year high of $122.90. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.55 and a quick ratio of 2.00. The company’s 50 day simple moving average is $102.49 and its 200 day simple moving average is $96.65.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arizona State Retirement System lifted its position in shares of John Bean Technologies by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 8,900 shares of the industrial products company’s stock worth $845,000 after purchasing an additional 150 shares during the period. CWM LLC grew its holdings in shares of John Bean Technologies by 113.2% during the second quarter. CWM LLC now owns 324 shares of the industrial products company’s stock valued at $31,000 after buying an additional 172 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of John Bean Technologies by 1.4% in the second quarter. Diversified Trust Co now owns 13,400 shares of the industrial products company’s stock valued at $1,273,000 after purchasing an additional 184 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of John Bean Technologies by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the industrial products company’s stock valued at $1,520,000 after purchasing an additional 200 shares in the last quarter. Finally, Wrapmanager Inc. grew its stake in John Bean Technologies by 6.2% in the 3rd quarter. Wrapmanager Inc. now owns 3,537 shares of the industrial products company’s stock valued at $348,000 after purchasing an additional 206 shares during the period. 98.92% of the stock is currently owned by institutional investors.

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.