Seaport Res Ptn stock analysts lower earnings estimates for John Bean Technologies Co. (NYSE: JBT)
John Bean Technologies Co. (NYSE: JBT) – Seaport Res Ptn stock researchers have dropped their 2022 first quarter earnings per share (EPS) estimates for John Bean Technologies shares in a research report released to clients and to investors on Thursday, October 28. Seaport Res Ptn analyst W. Liptak now predicts the industrials company will post earnings per share of $ 0.88 for the quarter, down from its previous forecast of $ 0.92. Seaport Res Ptn also released estimates for John Bean Technologies second quarter 2022 earnings at $ 1.28 per share and fourth quarter 2022 earnings at $ 1.92 per share.
Several other equity research analysts also recently published reports on the company. JPMorgan Chase & Co. upgraded John Bean Technologies from an “underweight” rating to a “neutral” rating and set a price target of $ 130.00 for the company in a report released on Monday, October 4. Robert W. Baird increased his price target for John Bean Technologies from $ 151.00 to $ 162.00 and rated the stock as “outperforming” in a report released Thursday, July 29. Two equity research analysts rated the stock with a conservation rating and four gave the company’s stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $ 150.20.
NYSE JBT opened at $ 147.75 on Monday. The company has a 50-day moving average of $ 146.88. The company has a market cap of $ 4.69 billion, a P / E ratio of 40.59, a PEG ratio of 2.15 and a beta of 1.55. The company has a quick ratio of 1.20, a current ratio of 1.32, and a debt ratio of 0.92. John Bean Technologies has a 12-month low of $ 81.27 and a 12-month high of $ 161.05. John Bean Technologies (NYSE: JBT) last released its quarterly earnings data on Wednesday, October 27. The industrials company reported EPS of $ 1.02 for the quarter, missing analyst consensus estimates of $ 1.18 of ($ 0.16). The company posted revenue of $ 477.40 million in the quarter, compared to a consensus estimate of $ 494.96 million. John Bean Technologies had a net margin of 6.46% and a return on equity of 19.63%. The company’s revenue for the quarter increased 13.9% compared to the same quarter last year. In the same quarter of the previous year, the company posted EPS of $ 0.83.
A number of hedge funds and other institutional investors have recently changed their holdings of equities. Cascade Investment Advisors Inc. strengthened its position in John Bean Technologies by 0.9% during the second quarter. Cascade Investment Advisors Inc. now owns 7,596 shares of the industrial products company valued at $ 1,083,000 after purchasing 70 more shares in the last quarter. CWM Advisors LLC increased its stake in John Bean Technologies by 3.1% in the second quarter. CWM Advisors LLC now owns 2,508 shares of the industrial products company valued at $ 358,000 after purchasing 76 additional shares during the period. First Mercantile Trust Co. increased its stake in John Bean Technologies by 5.4% in the second quarter. First Mercantile Trust Co. now owns 1,574 shares of the industrial products company valued at $ 224,000 after purchasing 81 additional shares during the period. LPL Financial LLC increased its stake in John Bean Technologies by 3.0% in the second quarter. LPL Financial LLC now owns 2,790 shares of the industrial products company valued at $ 398,000 after purchasing 81 additional shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in John Bean Technologies by 2.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,683 shares of the industrials company valued at $ 668,000 after purchasing 94 additional shares during the period.
In related news, director Caroline Maury Devine sold 300 shares in a trade that took place on Monday, September 20. The stock was sold for an average price of $ 149.83, for a total trade of $ 44,949. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through the SEC website. In addition, Executive Vice President James L. Marvin sold 2,500 shares in a trade that took place on Friday, October 15. The shares were sold for an average price of $ 149.87, for a total value of $ 374,675. Disclosure of this sale can be found here. Insiders have sold 3,400 shares of the company valued at $ 505,601 in the past ninety days. 2.00% of the shares are held by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 7. Shareholders of record on Monday August 23 received a dividend of $ 0.10 per share. The ex-dividend date was Friday August 20. This represents an annualized dividend of $ 0.40 and a dividend yield of 0.27%. John Bean Technologies’ dividend payout ratio is currently 10.15%.
John Bean Technologies Company Profile
John Bean Technologies Corp. is a technology solutions provider operating in the food, beverage and airline industries. It operates through the business sectors JBT FoodTech and JBT AeroTech. JBT FoodTech segment designs, manufactures and services technological food processing systems for the preparation of meat, seafood and poultry products, ready-to-eat meals, packaged long-life foods, products baked goods, juices and dairy products, and fruits and vegetables.
Read more: What is the Price to Earnings Growth Ratio (PEG)?
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