John Bean Technologies Corporation (NYSE:JBT) issued its earnings results on Monday, July 31st. The industrial products company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.07, Bloomberg Earnings reports. The firm had revenue of $386.10 million for the quarter, compared to the consensus estimate of $381.49 million. John Bean Technologies Corporation had a return on equity of 29.18% and a net margin of 5.32%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. John Bean Technologies Corporation updated its Q3 guidance to $0.76 to $0.79 EPS and its FY17 guidance to $2.95 to $3.10 EPS.
John Bean Technologies Corporation (NYSE:JBT) opened at 87.35 on Friday. The stock has a 50 day moving average price of $91.98 and a 200 day moving average price of $89.12. John Bean Technologies Corporation has a 52-week low of $64.28 and a 52-week high of $99.20. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 33.83 and a beta of 1.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a $0.10 dividend. The ex-dividend date is Thursday, August 17th. This is a positive change from John Bean Technologies Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.46%. John Bean Technologies Corporation’s dividend payout ratio (DPR) is 15.44%.
Several equities research analysts recently weighed in on the company. BidaskClub downgraded John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Bank of America Corporation assumed coverage on John Bean Technologies Corporation in a report on Thursday, May 18th. They set a “neutral” rating and a $89.00 price objective on the stock. Finally, J P Morgan Chase & Co assumed coverage on John Bean Technologies Corporation in a report on Friday, June 2nd. They set a “neutral” rating and a $88.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $99.86.
Several hedge funds have recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its stake in John Bean Technologies Corporation by 4.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,144 shares of the industrial products company’s stock worth $101,000 after buying an additional 44 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in John Bean Technologies Corporation by 62.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,216 shares of the industrial products company’s stock worth $107,000 after buying an additional 467 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in John Bean Technologies Corporation by 67.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,152 shares of the industrial products company’s stock worth $113,000 after buying an additional 466 shares in the last quarter. Elkfork Partners LLC raised its stake in John Bean Technologies Corporation by 4.0% in the first quarter. Elkfork Partners LLC now owns 1,456 shares of the industrial products company’s stock worth $128,000 after buying an additional 56 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in shares of John Bean Technologies Corporation by 27.4% in the second quarter. Advisor Group Inc. now owns 1,381 shares of the industrial products company’s stock valued at $129,000 after buying an additional 297 shares during the period. Institutional investors own 99.52% of the company’s stock.
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John Bean Technologies Corporation Company Profile
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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