$537.79 Million in Sales Expected for John Bean Technologies Corp (JBT) This Quarter

Wall Street brokerages forecast that John Bean Technologies Corp (NYSE:JBT) will announce $537.79 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for John Bean Technologies’ earnings, with the lowest sales estimate coming in at $526.06 million and the highest estimate coming in at $546.50 million. John Bean Technologies posted sales of $483.70 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The business is scheduled to announce its next earnings report on Monday, February 25th.

According to Zacks, analysts expect that John Bean Technologies will report full year sales of $1.92 billion for the current fiscal year, with estimates ranging from $1.92 billion to $1.93 billion. For the next financial year, analysts anticipate that the company will post sales of $1.97 billion, with estimates ranging from $1.89 billion to $2.04 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for John Bean Technologies.

John Bean Technologies (NYSE:JBT) last posted its earnings results on Wednesday, October 31st. The industrial products company reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.05). John Bean Technologies had a return on equity of 28.31% and a net margin of 4.32%. The business had revenue of $481.90 million for the quarter, compared to the consensus estimate of $489.81 million. During the same period in the previous year, the firm earned $0.82 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year.

JBT has been the topic of a number of research reports. Zacks Investment Research raised shares of John Bean Technologies from a “sell” rating to a “hold” rating and set a $123.00 target price on the stock in a report on Saturday, July 28th. Robert W. Baird reduced their target price on shares of John Bean Technologies from $119.00 to $95.00 and set a “hold” rating on the stock in a report on Friday, November 2nd. ValuEngine lowered shares of John Bean Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. BMO Capital Markets boosted their target price on shares of John Bean Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Finally, JPMorgan Chase & Co. lowered shares of John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 target price on the stock. in a report on Friday, September 21st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $102.71.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of John Bean Technologies by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,148,909 shares of the industrial products company’s stock valued at $375,664,000 after purchasing an additional 56,258 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of John Bean Technologies by 1.9% in the 3rd quarter. Teachers Advisors LLC now owns 60,290 shares of the industrial products company’s stock valued at $7,193,000 after purchasing an additional 1,131 shares during the last quarter. Equitable Trust Co. bought a new stake in shares of John Bean Technologies in the 3rd quarter valued at $477,000. MetLife Investment Advisors LLC boosted its stake in shares of John Bean Technologies by 56.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 21,743 shares of the industrial products company’s stock valued at $2,594,000 after purchasing an additional 7,861 shares during the last quarter. Finally, Putnam Investments LLC boosted its stake in shares of John Bean Technologies by 8.9% in the 3rd quarter. Putnam Investments LLC now owns 109,388 shares of the industrial products company’s stock valued at $13,050,000 after purchasing an additional 8,911 shares during the last quarter.

JBT opened at $78.91 on Friday. John Bean Technologies has a fifty-two week low of $77.25 and a fifty-two week high of $123.90. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.87 and a current ratio of 1.38. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

About John Bean Technologies

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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