Zacks: Brokerages Expect John Bean Technologies Corp (NYSE:JBT) Will Announce Quarterly Sales of $507.42 Million
Wall Street brokerages forecast that John Bean Technologies Corp (NYSE:JBT) will post $507.42 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for John Bean Technologies’ earnings. The lowest sales estimate is $504.90 million and the highest is $509.56 million. John Bean Technologies posted sales of $481.90 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The firm is scheduled to report its next quarterly earnings results on Wednesday, October 30th.
According to Zacks, analysts expect that John Bean Technologies will report full-year sales of $1.98 billion for the current year, with estimates ranging from $1.97 billion to $2.00 billion. For the next financial year, analysts forecast that the firm will post sales of $2.08 billion, with estimates ranging from $2.02 billion to $2.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover John Bean Technologies.
John Bean Technologies (NYSE:JBT) last issued its quarterly earnings data on Monday, July 29th. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. John Bean Technologies had a net margin of 6.36% and a return on equity of 33.68%. The firm had revenue of $493.30 million for the quarter, compared to analyst estimates of $481.04 million. During the same quarter in the previous year, the business posted $1.24 EPS. The firm’s revenue was up .4% compared to the same quarter last year.
In other news, Director Caroline Maury Devine sold 300 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $109.19, for a total value of $32,757.00. Following the sale, the director now owns 49,946 shares in the company, valued at approximately $5,453,603.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James L. Marvin sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $100.12, for a total transaction of $150,180.00. Following the completion of the sale, the executive vice president now owns 18,313 shares in the company, valued at approximately $1,833,497.56. The disclosure for this sale can be found here. Corporate insiders own 2.23% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of John Bean Technologies by 4.5% during the 2nd quarter. BlackRock Inc. now owns 4,728,466 shares of the industrial products company’s stock valued at $572,760,000 after buying an additional 205,371 shares during the last quarter. Morgan Stanley grew its position in shares of John Bean Technologies by 831.8% during the 2nd quarter. Morgan Stanley now owns 145,238 shares of the industrial products company’s stock valued at $17,592,000 after buying an additional 129,651 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of John Bean Technologies during the 2nd quarter valued at about $15,551,000. JPMorgan Chase & Co. grew its position in shares of John Bean Technologies by 21.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 648,632 shares of the industrial products company’s stock valued at $75,656,000 after buying an additional 112,601 shares during the last quarter. Finally, Castleark Management LLC bought a new stake in shares of John Bean Technologies during the 2nd quarter valued at about $12,500,000.
JBT stock traded up $0.81 during trading on Friday, reaching $105.78. The stock had a trading volume of 183,123 shares, compared to its average volume of 182,915. John Bean Technologies has a 1-year low of $66.28 and a 1-year high of $127.97. The company has a current ratio of 1.48, a quick ratio of 0.94 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $3.21 billion, a P/E ratio of 24.71, a PEG ratio of 2.87 and a beta of 1.47. The firm has a fifty day moving average price of $102.64 and a 200 day moving average price of $107.90.
About John Bean Technologies
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to 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, 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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