Johnson Controls International PLC (JCI) Downgraded to Sell at Zacks Investment Research
Johnson Controls International PLC (NYSE:JCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Johnson Controls’ adjusted earnings and revenues came in line with the Zacks Consensus Estimate in the fourth-quarter of fiscal 2017. The frequent business divestitures are adversely impacting its revenues and profits. The company has agreed to pay $14.4 million to settle U.S. regulatory charges for its violation of the Foreign Corrupt Practices Act, which will add to its expenses. Also, negative foreign currency translations and volatile commodity prices are few other headwinds the company is facing. Moreover, in the last six months, Johnson Controls’ shares have underperformed in the industry it belongs to.”
JCI has been the topic of several other reports. Citigroup Inc. reiterated a “buy” rating and issued a $50.00 price target (up from $47.00) on shares of Johnson Controls International PLC in a research note on Monday, October 9th. Cowen and Company reiterated an “outperform” rating and issued a $48.00 price target on shares of Johnson Controls International PLC in a research note on Monday, August 21st. Robert W. Baird lowered their price target on shares of Johnson Controls International PLC from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $45.00 price target (down from $50.00) on shares of Johnson Controls International PLC in a research note on Friday. Finally, Vertical Research lowered shares of Johnson Controls International PLC from a “buy” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $47.79.
Shares of Johnson Controls International PLC (NYSE:JCI) traded down $0.93 during trading hours on Tuesday, hitting $36.00. 11,405,100 shares of the company were exchanged, compared to its average volume of 5,089,346. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.56. Johnson Controls International PLC has a fifty-two week low of $35.85 and a fifty-two week high of $46.17. The firm has a market capitalization of $34,271.04, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.98 and a beta of 0.94.
Johnson Controls International PLC (NYSE:JCI) last issued its quarterly earnings results on Thursday, November 9th. The auto parts company reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Johnson Controls International PLC had a net margin of 6.32% and a return on equity of 11.91%. The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period in the previous year, the business earned $1.21 EPS. The company’s revenue was up 30.1% compared to the same quarter last year. equities analysts predict that Johnson Controls International PLC will post 2.84 earnings per share for the current year.
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In other Johnson Controls International PLC news, VP Jeffrey M. Williams sold 1,955 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $41.43, for a total value of $80,995.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Interstate Bank boosted its holdings in Johnson Controls International PLC by 0.9% in the 2nd quarter. First Interstate Bank now owns 7,069 shares of the auto parts company’s stock valued at $307,000 after purchasing an additional 62 shares during the period. Stanley Laman Group Ltd. boosted its holdings in Johnson Controls International PLC by 0.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 11,410 shares of the auto parts company’s stock valued at $495,000 after purchasing an additional 63 shares during the period. River Wealth Advisors LLC boosted its holdings in Johnson Controls International PLC by 1.1% in the 2nd quarter. River Wealth Advisors LLC now owns 11,070 shares of the auto parts company’s stock valued at $480,000 after purchasing an additional 117 shares during the period. Bessemer Group Inc. boosted its holdings in Johnson Controls International PLC by 5.5% in the 2nd 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. Finally, Bbva Compass Bancshares Inc. boosted its holdings in Johnson Controls International PLC by 4.2% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 3,714 shares of the auto parts company’s stock valued at $161,000 after purchasing an additional 150 shares during the period. 85.98% of the stock is owned by hedge funds and other institutional investors.
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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