John Bean Technologies (NYSE:JBT) Issues Earnings Results, Misses Estimates By $0.19 EPS

John Bean Technologies (NYSE:JBT) announced its quarterly earnings data on Tuesday. The industrial products company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.19), Briefing.com reports. John Bean Technologies had a return on equity of 10.56% and a net margin of 36.12%. The firm had revenue of $402.30 million during the quarter, compared to analysts’ expectations of $432.67 million. During the same quarter in the previous year, the firm earned $0.97 earnings per share. John Bean Technologies’s revenue was down 5.9% on a year-over-year basis. John Bean Technologies updated its FY24 guidance to $5.05-5.35 EPS and its FY 2024 guidance to 5.050-5.350 EPS.

John Bean Technologies Stock Performance

JBT traded up $1.73 during mid-day trading on Wednesday, reaching $98.38. 470,616 shares of the company traded hands, compared to its average volume of 261,758. The stock has a market capitalization of $3.13 billion, a P/E ratio of 5.28, a P/E/G ratio of 1.48 and a beta of 1.27. The company has a quick ratio of 1.83, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average price is $95.90 and its 200-day moving average price is $97.09. John Bean Technologies has a 52-week low of $88.03 and a 52-week high of $123.82.

John Bean Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. John Bean Technologies’s dividend payout ratio is presently 2.13%.

Wall Street Analyst Weigh In

Separately, William Blair restated a “market perform” rating on shares of John Bean Technologies in a report on Thursday, May 2nd.

John Bean Technologies Company Profile

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.