Johnson Controls International plc (NYSE:JCI) Announces $0.40 Quarterly Dividend

Key Points

• Johnson Controls declared a quarterly dividend of $0.40 per share, payable October 16 to shareholders of record on September 21. The dividend implies $1.60 annually and a 1.1% yield.
• The dividend appears well covered, with a current payout ratio of 37.8%; analysts expect the future payout ratio to fall to 26.4% based on projected earnings.
• JCI’s latest quarterly results exceeded expectations, with adjusted EPS of $1.42 and revenue of $6.61 billion, up 9.3% year over year. Analysts collectively rate the stock “Hold,” with a consensus price target of $155.75.

Johnson Controls International plc (NYSE:JCI - Get Free Report) announced a quarterly dividend on Wednesday, September 9th. Shareholders of record on Monday, September 21st will be paid a dividend of 0.40 per share on Friday, October 16th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, September 21st.

Johnson Controls International has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Johnson Controls International has a dividend payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Johnson Controls International to earn $6.07 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 26.4%.

Johnson Controls International Trading Down 0.9%

Shares of JCI traded down $1.27 on Wednesday, hitting $145.10. 2,653,318 shares of the stock traded hands, compared to its average volume of 4,230,604. The stock's 50 day moving average is $144.77 and its two-hundred day moving average is $141.37. The company has a quick ratio of 0.83, a current ratio of 1.00 and a debt-to-equity ratio of 0.61. Johnson Controls International has a 1 year low of $104.49 and a 1 year high of $157.06. The firm has a market capitalization of $87.89 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.39 and a beta of 1.29.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.12. The firm had revenue of $6.61 billion during the quarter, compared to the consensus estimate of $6.46 billion. Johnson Controls International had a return on equity of 22.11% and a net margin of 14.32%.Johnson Controls International's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, sell-side analysts predict that Johnson Controls International will post 5.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

JCI has been the subject of several analyst reports. Citigroup raised their target price on Johnson Controls International from $155.00 to $157.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Argus set a $175.00 target price on shares of Johnson Controls International in a research note on Friday, August 7th. Wolfe Research restated an "outperform" rating and set a $171.00 target price on shares of Johnson Controls International in a report on Wednesday, June 3rd. UBS Group reiterated a "buy" rating on shares of Johnson Controls International in a report on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Johnson Controls International from $154.00 to $161.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $155.75.

About Johnson Controls International

Johnson Controls International plc NYSE: JCI is a global company focused on building technologies and solutions that improve the efficiency, safety and sustainability of buildings. Its offerings include heating, ventilation and air-conditioning systems, building automation and controls, fire detection and suppression equipment, security systems, and related digital technologies and services.

The company serves commercial, institutional, industrial and residential customers, helping organizations manage building operations, energy use, indoor air quality and physical security.

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