Johnson Controls International PLC (JCI) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Johnson Controls International PLC (NYSE:JCI) from a sell rating to a hold rating in a research report released on Monday morning.
According to Zacks, “Johnson Controls is investing in the Chinese market as it anticipates significant growth opportunities therein. This will lead to top and bottom line improvement. For fiscal 2017, the company expects to generate strong earnings based on integration and productivity savings. Also, the company actively undertakes acquisitions and mergers in order to provide its customers with world-class technologies through strong complementary brands and channels. However, the company underperformed the industry it belongs to in the last six months. The company has been divesting several businesses, which are resulting in a decline of its revenues and profits due to high separation costs. Also, spinning-out of its automotive seating and interiors business and foreign currency headwinds are affecting the financial results of the company.”
A number of other analysts have also issued reports on JCI. Cowen and Company reaffirmed an outperform rating and issued a $52.00 price target on shares of Johnson Controls International PLC in a research note on Friday, May 19th. ValuEngine lowered Johnson Controls International PLC from a buy rating to a hold rating in a research note on Friday, June 2nd. JMP Securities initiated coverage on Johnson Controls International PLC in a research note on Monday, June 19th. They issued an outperform rating and a $54.00 price target on the stock. BidaskClub raised Johnson Controls International PLC from a sell rating to a hold rating in a research note on Thursday, June 29th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $51.00 price target (up from $50.00) on shares of Johnson Controls International PLC in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $49.63.
Shares of Johnson Controls International PLC (NYSE:JCI) opened at 39.90 on Monday. The stock’s 50 day moving average price is $39.25 and its 200 day moving average price is $41.37. The stock’s market capitalization is $37.20 billion. Johnson Controls International PLC has a one year low of $36.74 and a one year high of $46.86.
Johnson Controls International PLC (NYSE:JCI) last issued its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.71 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.71. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.72 billion. Johnson Controls International PLC had a positive return on equity of 11.74% and a negative net margin of 0.43%. The business’s revenue was up 48.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. Equities research analysts predict that Johnson Controls International PLC will post $2.61 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, September 25th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. Johnson Controls International PLC’s dividend payout ratio is currently -196.08%.
Large investors have recently bought and sold shares of the business. FNY Managed Accounts LLC purchased a new stake in Johnson Controls International PLC in the first quarter valued at $100,000. Bessemer Group Inc. raised its position in Johnson Controls International PLC by 5.5% in the second quarter. Bessemer Group Inc. now owns 2,550 shares of the auto parts company’s stock valued at $110,000 after purchasing an additional 133 shares during the period. Perigon Wealth Management LLC raised its position in Johnson Controls International PLC by 171.7% in the second quarter. Perigon Wealth Management LLC now owns 2,663 shares of the auto parts company’s stock valued at $116,000 after purchasing an additional 1,683 shares during the period. Harfst & Associates Inc. raised its position in Johnson Controls International PLC by 16.9% in the second quarter. Harfst & Associates Inc. now owns 2,691 shares of the auto parts company’s stock valued at $116,000 after purchasing an additional 389 shares during the period. Finally, Grove Bank & Trust raised its position in Johnson Controls International PLC by 57.7% in the second quarter. Grove Bank & Trust now owns 2,693 shares of the auto parts company’s stock valued at $117,000 after purchasing an additional 985 shares during the period. Institutional investors own 86.17% of the company’s stock.
About Johnson Controls International PLC
Johnson Controls, Inc is a technology company. The Company provides products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles, and seating and interior systems for automobiles. The Company operates in two segments: Building Efficiency and Power Solutions.
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