Adient plc (NYSE:ADNT) Expected to Announce Earnings of $0.01 Per Share

Wall Street brokerages expect that Adient plc (NYSE:ADNT) will report earnings per share of $0.01 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Adient’s earnings. The highest EPS estimate is $0.06 and the lowest is ($0.07). Adient reported earnings of $1.15 per share in the same quarter last year, which would indicate a negative year over year growth rate of 99.1%. The firm is scheduled to announce its next earnings report on Monday, November 29th.

According to Zacks, analysts expect that Adient will report full-year earnings of $2.20 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $2.41. For the next year, analysts anticipate that the firm will post earnings of $5.93 per share, with EPS estimates ranging from $4.15 to $10.06. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Adient.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, August 4th. The company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.68). Adient had a net margin of 0.77% and a return on equity of 18.97%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period last year, the company posted ($2.78) EPS. The business’s revenue was up 99.4% compared to the same quarter last year.

A number of brokerages recently commented on ADNT. Credit Suisse Group decreased their target price on shares of Adient from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, August 9th. Benchmark cut their target price on shares of Adient from $59.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, August 9th. Wells Fargo & Company dropped their price objective on shares of Adient from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, September 10th. Royal Bank of Canada dropped their price objective on shares of Adient from $58.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 6th. Finally, Zacks Investment Research raised shares of Adient from a “sell” rating to a “hold” rating and set a $43.00 target price for the company in a report on Thursday, August 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.00.

Several hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in Adient by 21.9% during the first quarter. FMR LLC now owns 1,008,304 shares of the company’s stock worth $13,067,000 after purchasing an additional 181,235 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Adient during the first quarter worth $9,031,000. Alliancebernstein L.P. lifted its holdings in shares of Adient by 1.1% during the first quarter. Alliancebernstein L.P. now owns 224,041 shares of the company’s stock worth $9,903,000 after purchasing an additional 2,420 shares during the period. The PNC Financial Services Group Inc. lifted its holdings in shares of Adient by 70.9% during the first quarter. The PNC Financial Services Group Inc. now owns 8,697 shares of the company’s stock worth $383,000 after purchasing an additional 3,607 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Adient by 0.8% during the first quarter. Swiss National Bank now owns 203,798 shares of the company’s stock worth $9,008,000 after purchasing an additional 1,700 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ADNT stock opened at $40.72 on Monday. The company has a 50 day moving average of $39.18 and a 200-day moving average of $43.22. The firm has a market cap of $3.84 billion, a P/E ratio of 34.80, a PEG ratio of 0.44 and a beta of 3.25. Adient has a 12-month low of $15.99 and a 12-month high of $53.17. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 1.96.

About Adient

Adient plc manufactures automotive seating systems. The firm’s products include Complete Seats, Commercial vehicle seats, Structures & Mechanisms, Foam, Fabrics and Trim. It operates through the following geographical segments: Americas, EMEA and Asia. The company was founded on December 17, 2015 and is headquartered Dublin, Ireland.

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