John Bean Technologies (NYSE:JBT) posted its quarterly earnings data on Wednesday. The industrial products company reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.05), Briefing.com reports. John Bean Technologies had a return on equity of 26.58% and a net margin of 4.43%. The business had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $489.81 million. During the same period in the prior year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. John Bean Technologies updated its FY 2018 guidance to $4.00-4.10 EPS and its FY18 guidance to $4.00-4.10 EPS.
Shares of JBT traded down $0.65 during midday trading on Friday, reaching $89.74. The stock had a trading volume of 75,237 shares, compared to its average volume of 155,769. John Bean Technologies has a 12-month low of $84.81 and a 12-month high of $123.90. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $3.20 billion, a P/E ratio of 28.95, a PEG ratio of 1.56 and a beta of 1.18.
Several research analysts have weighed in on JBT shares. Zacks Investment Research cut John Bean Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. BMO Capital Markets boosted their price objective on John Bean Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 31st. TheStreet raised John Bean Technologies from a “c+” rating to an “a-” rating in a research report on Thursday, July 26th. ValuEngine raised John Bean Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Finally, JPMorgan Chase & Co. cut John Bean Technologies from a “neutral” rating to an “underweight” rating and set a $88.00 price objective on the stock. in a research report on Friday, September 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. John Bean Technologies currently has an average rating of “Hold” and a consensus price target of $106.14.
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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