Brokerages Anticipate John Bean Technologies Corp (JBT) Will Announce Quarterly Sales of $486.80 Million

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Wall Street brokerages expect John Bean Technologies Corp (NYSE:JBT) to report $486.80 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for John Bean Technologies’ earnings, with the lowest sales estimate coming in at $473.90 million and the highest estimate coming in at $498.82 million. John Bean Technologies posted sales of $420.80 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.7%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 31st.

According to Zacks, analysts expect that John Bean Technologies will report full year sales of $1.91 billion for the current year, with estimates ranging from $1.89 billion to $1.93 billion. For the next financial year, analysts forecast that the business will post sales of $1.99 billion, with estimates ranging from $1.95 billion to $2.04 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for John Bean Technologies.

John Bean Technologies (NYSE:JBT) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.19. The business had revenue of $491.30 million for the quarter, compared to analysts’ expectations of $474.59 million. John Bean Technologies had a net margin of 4.43% and a return on equity of 26.58%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share.

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. cut 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 research note on Friday, September 21st. ValuEngine cut shares of John Bean Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. TheStreet raised shares of John Bean Technologies from a “c+” rating to an “a-” rating in a research note on Thursday, July 26th. 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 research note on Saturday, July 28th. Finally, BMO Capital Markets upped their target price on shares of John Bean Technologies from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $106.14.

NYSE JBT traded down $2.44 on Monday, reaching $104.11. The company’s stock had a trading volume of 195,000 shares, compared to its average volume of 198,251. The stock has a market cap of $3.77 billion, a P/E ratio of 33.58, a PEG ratio of 1.84 and a beta of 1.18. John Bean Technologies has a 52 week low of $84.81 and a 52 week high of $123.90. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 1.06.

Large investors have recently added to or reduced their stakes in the business. Carnegie Capital Asset Management LLC acquired a new position in John Bean Technologies in the second quarter valued at about $239,000. Yorktown Management & Research Co Inc acquired a new position in John Bean Technologies in the second quarter valued at about $249,000. PEAK6 Investments L.P. boosted its position in John Bean Technologies by 203.6% in the second quarter. PEAK6 Investments L.P. now owns 3,106 shares of the industrial products company’s stock valued at $276,000 after buying an additional 6,104 shares in the last quarter. Diversified Trust Co acquired a new position in John Bean Technologies in the second quarter valued at about $289,000. Finally, First Midwest Bank Trust Division boosted its position in John Bean Technologies by 11.9% in the second quarter. First Midwest Bank Trust Division now owns 4,662 shares of the industrial products company’s stock valued at $414,000 after buying an additional 494 shares in the last quarter.

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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