John Bean Technologies (NYSE:JBT) Releases Earnings Results

John Bean Technologies (NYSE:JBT) released its quarterly earnings data on Wednesday. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03, Briefing.com reports. John Bean Technologies had a return on equity of 12.15% and a net margin of 33.53%. The company had revenue of $392.30 million for the quarter, compared to the consensus estimate of $396.55 million. During the same quarter last year, the business posted $0.94 EPS. John Bean Technologies’s revenue for the quarter was up 1.0% on a year-over-year basis. John Bean Technologies updated its FY24 guidance to $5.05-5.45 EPS and its FY 2024 guidance to 5.050-5.450 EPS.

John Bean Technologies Trading Up 0.2 %

Shares of JBT stock traded up $0.22 during mid-day trading on Thursday, hitting $89.06. The company’s stock had a trading volume of 139,919 shares, compared to its average volume of 217,599. The company’s fifty day simple moving average is $97.83 and its 200-day simple moving average is $100.22. John Bean Technologies has a 52 week low of $88.03 and a 52 week high of $125.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.78 and a current ratio of 2.27. The company has a market cap of $2.83 billion, a PE ratio of 4.71, a P/E/G ratio of 1.43 and a beta of 1.29.

John Bean Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, March 8th. John Bean Technologies’s dividend payout ratio (DPR) is presently 2.12%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reissued an “outperform” rating and set a $121.00 price objective on shares of John Bean Technologies in a report on Monday, January 22nd. One analyst has rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, John Bean Technologies currently has an average rating of “Moderate Buy” and an average target price of $121.00.

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.