Zacks: Analysts Anticipate Johnson Controls International PLC (JCI) Will Post Quarterly Sales of $7.95 Billion

Brokerages forecast that Johnson Controls International PLC (NYSE:JCI) will post sales of $7.95 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Johnson Controls International’s earnings, with the lowest sales estimate coming in at $7.93 billion and the highest estimate coming in at $7.96 billion. Johnson Controls International reported sales of $7.44 billion in the same quarter last year, which would suggest a positive year over year growth rate of 6.9%. The business is expected to announce its next quarterly earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that Johnson Controls International will report full year sales of $33.02 billion for the current financial year, with estimates ranging from $31.66 billion to $33.64 billion. For the next financial year, analysts anticipate that the business will post sales of $34.14 billion, with estimates ranging from $32.56 billion to $34.99 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Johnson Controls International.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings results on Thursday, November 8th. The auto parts company reported $0.93 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.93. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.28 billion. Johnson Controls International had a net margin of 6.89% and a return on equity of 11.92%. Johnson Controls International’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 earnings per share.

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Co decreased their price objective on shares of Johnson Controls International from $41.00 to $38.00 and set a “market perform” rating for the company in a report on Friday, September 28th. Royal Bank of Canada restated a “sell” rating and set a $34.00 price target on shares of Johnson Controls International in a report on Wednesday, August 1st. UBS Group cut shares of Johnson Controls International from a “buy” rating to a “neutral” rating and decreased their price target for the company from $44.00 to $40.00 in a report on Tuesday, September 11th. Citigroup upped their price target on shares of Johnson Controls International from $45.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Johnson Controls International from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.92.

Several institutional investors and hedge funds have recently made changes to their positions in JCI. TRUE Private Wealth Advisors acquired a new position in shares of Johnson Controls International during the third quarter valued at about $131,000. FTB Advisors Inc. acquired a new position in Johnson Controls International in the second quarter worth about $138,000. TLP Group LLC acquired a new position in Johnson Controls International in the third quarter worth about $141,000. Point72 Hong Kong Ltd acquired a new position in Johnson Controls International in the second quarter worth about $156,000. Finally, Focused Wealth Management Inc acquired a new position in Johnson Controls International in the third quarter worth about $158,000. 91.71% of the stock is owned by institutional investors and hedge funds.

NYSE:JCI traded up $0.41 during trading hours on Friday, reaching $33.66. The company’s stock had a trading volume of 304,071 shares, compared to its average volume of 6,275,697. The stock has a market capitalization of $30.72 billion, a PE ratio of 11.80, a P/E/G ratio of 1.01 and a beta of 0.87. Johnson Controls International has a one year low of $30.60 and a one year high of $41.53. The company has a current ratio of 1.05, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43.

Johnson Controls International declared that its Board of Directors has approved a share buyback plan on Thursday, November 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the auto parts company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Johnson Controls International Company Profile

Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The company operates through Building Technologies & Solutions and Power Solutions segments. It designs, sells, controls, installs heating, ventilating, and air conditioning systems. The company also provides residential air conditioning and heating systems, and industrial refrigeration products, as well as technical and energy management consulting services.

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Earnings History and Estimates for Johnson Controls International (NYSE:JCI)

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