John Bean Technologies Corporation (JBT) Issues Earnings Results, Beats Expectations By $0.04 EPS
John Bean Technologies Corporation (NYSE:JBT) issued its quarterly earnings data on Monday. The industrial products company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04, Bloomberg Earnings reports. John Bean Technologies Corporation had a return on equity of 29.18% and a net margin of 5.32%. The company had revenue of $420.80 million for the quarter, compared to the consensus estimate of $414.17 million. During the same quarter last year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. John Bean Technologies Corporation updated its FY17 guidance to $3.00-3.10 EPS.
Shares of John Bean Technologies Corporation (NYSE:JBT) traded up 0.10% during midday trading on Monday, reaching $104.05. The company’s stock had a trading volume of 180,911 shares. John Bean Technologies Corporation has a 12-month low of $71.85 and a 12-month high of $105.50. The stock’s 50-day moving average price is $97.88 and its 200-day moving average price is $91.74. The company has a market cap of $3.29 billion, a P/E ratio of 40.30 and a beta of 1.35.
A number of equities research analysts recently weighed in on JBT shares. BidaskClub raised John Bean Technologies Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Zacks Investment Research downgraded John Bean Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Robert W. Baird set a $101.00 price objective on John Bean Technologies Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $99.33.
In other news, VP Megan J. Rattigan sold 3,103 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $87.27, for a total value of $270,798.81. Following the transaction, the vice president now owns 26,091 shares in the company, valued at approximately $2,276,961.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven R. Smith sold 10,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $86.78, for a total value of $867,800.00. Following the completion of the transaction, the executive vice president now owns 50,811 shares in the company, valued at approximately $4,409,378.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,103 shares of company stock worth $1,314,919. Company insiders own 1.81% of the company’s stock.
About John Bean Technologies Corporation
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food and beverage industry with focus on proteins, liquid foods and automated system solutions. It operates through two segments: JBT FoodTech and JBT AeroTech. The JBT FoodTech segment designs, manufactures and services technologically food processing systems used for fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry.
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