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

John Bean Technologies (NYSE:JBT) issued its quarterly earnings results on Tuesday. The industrial products company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.19), Briefing.com reports. The business had revenue of $402.30 million during the quarter, compared to analyst estimates of $432.67 million. John Bean Technologies had a return on equity of 9.79% and a net margin of 36.66%. John Bean Technologies’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 EPS. 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

Shares of NYSE JBT traded down $2.25 during midday trading on Thursday, reaching $96.13. 231,391 shares of the stock were exchanged, compared to its average volume of 261,551. 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 firm has a market cap of $3.06 billion, a price-to-earnings ratio of 5.13, a PEG ratio of 1.47 and a beta of 1.27. The firm has a 50-day simple moving average of $95.98 and a two-hundred day simple moving average of $97.10. John Bean Technologies has a twelve month low of $88.03 and a twelve month high of $120.20.

John Bean Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Wednesday, May 22nd. John Bean Technologies’s payout ratio is presently 2.13%.

Analyst Ratings Changes

Separately, William Blair reaffirmed a “market perform” rating on shares of John Bean Technologies in a research 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.