John Bean Technologies (NYSE:JBT) Posts Earnings Results

John Bean Technologies (NYSE:JBT) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03, Briefing.com reports. John Bean Technologies had a net margin of 36.12% and a return on equity of 10.56%. The company had revenue of $392.30 million during the quarter, compared to analyst estimates of $396.55 million. During the same period in the prior year, the business posted $0.94 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. 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 Price Performance

Shares of NYSE JBT traded up $0.76 during midday trading on Friday, reaching $91.14. The company’s stock had a trading volume of 296,149 shares, compared to its average volume of 302,474. John Bean Technologies has a one year low of $88.03 and a one year high of $125.88. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 4.86, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The company has a 50 day moving average price of $97.48 and a 200 day moving average price of $100.08. The company has a current ratio of 2.37, a quick ratio of 1.78 and a debt-to-equity ratio of 0.43.

John Bean Technologies Announces Dividend

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 dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. John Bean Technologies’s dividend payout ratio (DPR) is 2.13%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird restated an “outperform” rating and issued a $121.00 target price on shares of John Bean Technologies in a research report on Monday, January 22nd. One equities 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.com, John Bean Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

John Bean Technologies Company Profile

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.