Zacks Research Has Bullish Estimate for JBT FY2024 Earnings

John Bean Technologies Co. (NYSE:JBT - Free Report) - Equities research analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for John Bean Technologies in a research note issued to investors on Tuesday, November 12th. Zacks Research analyst S. Deb now anticipates that the industrial products company will post earnings of $5.19 per share for the year, up from their prior forecast of $5.14. The consensus estimate for John Bean Technologies' current full-year earnings is $5.21 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.09. John Bean Technologies had a return on equity of 10.16% and a net margin of 10.25%. The firm had revenue of $453.80 million during the quarter, compared to analyst estimates of $442.20 million. During the same period last year, the company posted $1.11 EPS. The business's quarterly revenue was up 12.4% compared to the same quarter last year.

John Bean Technologies Stock Performance

Shares of JBT traded down $2.03 on Thursday, reaching $118.87. 467,970 shares of the stock traded hands, compared to its average volume of 277,355. The stock's 50-day moving average price is $101.33 and its 200-day moving average price is $96.32. 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 firm has a market cap of $3.78 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.59 and a beta of 1.22. John Bean Technologies has a 12 month low of $82.64 and a 12 month high of $122.54.

Hedge Funds Weigh In On John Bean Technologies

Several large investors have recently made changes to their positions in JBT. Envestnet Portfolio Solutions Inc. bought a new stake in John Bean Technologies in the first quarter valued at about $238,000. SG Americas Securities LLC increased its holdings in John Bean Technologies by 111.2% in the first quarter. SG Americas Securities LLC now owns 3,046 shares of the industrial products company's stock valued at $319,000 after purchasing an additional 1,604 shares during the last quarter. ProShare Advisors LLC increased its holdings in John Bean Technologies by 7.4% in the first quarter. ProShare Advisors LLC now owns 6,422 shares of the industrial products company's stock valued at $674,000 after purchasing an additional 441 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in John Bean Technologies by 45.0% in the first quarter. Bleakley Financial Group LLC now owns 5,411 shares of the industrial products company's stock valued at $568,000 after purchasing an additional 1,680 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in John Bean Technologies by 19.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,855 shares of the industrial products company's stock valued at $1,186,000 after purchasing an additional 1,760 shares during the last quarter. Institutional investors and hedge funds own 98.92% of the company's stock.

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.