John Bean Technologies (NYSE:JBT) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

John Bean Technologies (NYSE:JBT) announced its earnings results on Wednesday. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03, Briefing.com reports. The company had revenue of $392.30 million during the quarter, compared to the consensus estimate of $396.55 million. John Bean Technologies had a net margin of 33.53% and a return on equity of 12.15%. John Bean Technologies’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. 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 Stock Performance

Shares of John Bean Technologies stock traded up $0.22 during trading on Thursday, hitting $89.06. 139,919 shares of the company’s stock were exchanged, compared to its average volume of 217,599. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.78 and a current ratio of 2.27. The business has a 50-day simple moving average of $97.83 and a 200-day simple moving average of $100.22. John Bean Technologies has a 52-week low of $88.03 and a 52-week high of $125.88. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 4.71, a PEG ratio of 1.43 and a beta of 1.29.

John Bean Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were paid 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 0.45%. John Bean Technologies’s payout ratio is currently 2.12%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reiterated an “outperform” rating and set a $121.00 price objective on shares of John Bean Technologies in a research note on Monday, January 22nd. One analyst has rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, John Bean Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

About John Bean Technologies

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.