Brokerages expect Johnson Controls International plc (NYSE:JCI) to post $0.49 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Johnson Controls International's earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.51. Johnson Controls International reported earnings per share of $0.42 in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.7%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Friday, April 30th.
According to Zacks, analysts expect that Johnson Controls International will report full year earnings of $2.57 per share for the current year, with EPS estimates ranging from $2.50 to $2.64. For the next year, analysts anticipate that the business will post earnings of $3.00 per share, with EPS estimates ranging from $2.85 to $3.12. Zacks' earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Johnson Controls International.
Johnson Controls International (NYSE:JCI) last posted its quarterly earnings results on Thursday, January 28th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $5.27 billion. Johnson Controls International had a return on equity of 8.72% and a net margin of 2.83%. Johnson Controls International's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share.
JCI has been the subject of several research reports. Royal Bank of Canada downgraded Johnson Controls International from an "outperform" rating to a "sector perform" rating and set a $66.00 price target for the company. in a research note on Wednesday, March 31st. OTR Global raised shares of Johnson Controls International from a "mixed" rating to a "positive" rating in a report on Tuesday. Barclays increased their target price on shares of Johnson Controls International from $56.00 to $59.00 and gave the company an "equal weight" rating in a report on Tuesday, April 6th. Morgan Stanley raised shares of Johnson Controls International from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $52.00 to $73.00 in a research note on Monday, March 29th. Finally, HSBC lowered shares of Johnson Controls International from a "buy" rating to a "hold" rating and set a $52.00 target price on the stock. in a research note on Monday, January 11th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Johnson Controls International currently has an average rating of "Buy" and an average price target of $52.89.
In related news, VP Robert M. Vanhimbergen sold 13,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $57.67, for a total value of $778,545.00. Following the sale, the vice president now owns 46,923 shares of the company's stock, valued at approximately $2,706,049.41. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sreeganesh Ramaswamy sold 5,000 shares of the business's stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $56.09, for a total value of $280,450.00. Following the transaction, the vice president now owns 61,864 shares of the company's stock, valued at approximately $3,469,951.76. The disclosure for this sale can be found here. Company insiders own 0.61% of the company's stock.
Institutional investors have recently made changes to their positions in the business. Lenox Wealth Advisors LLC raised its holdings in Johnson Controls International by 209.6% during the fourth quarter. Lenox Wealth Advisors LLC now owns 610 shares of the company's stock worth $28,000 after purchasing an additional 413 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Johnson Controls International by 813.7% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 466 shares of the company's stock worth $28,000 after purchasing an additional 415 shares during the last quarter. Capstone Triton Financial Group LLC bought a new stake in shares of Johnson Controls International in the 4th quarter worth approximately $29,000. Valeo Financial Advisors LLC lifted its stake in Johnson Controls International by 86.0% during the first quarter. Valeo Financial Advisors LLC now owns 478 shares of the company's stock valued at $29,000 after purchasing an additional 221 shares during the last quarter. Finally, Glassman Wealth Services acquired a new position in Johnson Controls International in the fourth quarter worth approximately $30,000. 89.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:JCI opened at $63.10 on Thursday. The stock has a market capitalization of $45.41 billion, a price-to-earnings ratio of 74.24, a price-to-earnings-growth ratio of 2.64 and a beta of 1.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 1.00. The company's 50 day simple moving average is $61.05 and its 200 day simple moving average is $51.52. Johnson Controls International has a 1 year low of $26.23 and a 1 year high of $64.08.
Johnson Controls International announced that its Board of Directors has authorized a share buyback program on Thursday, March 11th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 16th. Investors of record on Monday, March 22nd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, March 19th. This is a boost from Johnson Controls International's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 1.71%. Johnson Controls International's dividend payout ratio (DPR) is 48.21%.
About Johnson Controls International
Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. It operates through Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products segments. The company designs, sells, installs, and services heating, ventilating, air conditioning, controls, refrigeration, integrated electronic security, and integrated fire detection and suppression systems for commercial, industrial, retail, small business, institutional, and governmental customers; and energy efficiency solutions and technical services, including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems, as well as data-driven smart building solutions to non-residential building and industrial applications.
Featured Article: What is operating income?
Get a free copy of the Zacks research report on Johnson Controls International (JCI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Hedge Funds - Risk or Reward?
7 Stocks to Buy For the Gig Economy
Before the global pandemic, it was referred to as a side hustle—a way for some individuals to make a little extra money. However, as the pandemic has changed the nature of how we work, and as consumers how we spend, the gig economy has become an essential way of life for many workers.
There is much that’s not known about the long-term effects of the pandemic. But if there’s one lesson we learn from history, it’s that there will be ripple effects. We believe that society will get back to something resembling normal. However, what that normal looks like may be different.
Americans were becoming less social since before the pandemic. Now consumers have begun to realize there truly is no reason to leave their house to shop for anything. And while many crave physical connection during these times, there will be many that have changed their purchasing habits for good.
Other elements of the gig economy, such as ride-hailing and home rentals, were devastated due to the pandemic. Those businesses are likely to come back.
And that’s why companies that have created the gig economy aren’t going away anytime soon. In this special report, we’ll highlight several stocks that investors should consider as the gig economy moves forward.
View the "7 Stocks to Buy For the Gig Economy"