Zacks: Analysts Anticipate Adient plc (NYSE:ADNT) Will Post Quarterly Sales of $3.50 Billion

Wall Street brokerages forecast that Adient plc (NYSE:ADNT) will announce $3.50 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Adient’s earnings. The lowest sales estimate is $3.49 billion and the highest is $3.51 billion. Adient reported sales of $3.60 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.8%. The company is expected to issue its next quarterly earnings report on Monday, November 29th.

According to Zacks, analysts expect that Adient will report full-year sales of $14.39 billion for the current fiscal year, with estimates ranging from $14.35 billion to $14.42 billion. For the next fiscal year, analysts expect that the business will post sales of $16.24 billion, with estimates ranging from $15.90 billion to $16.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Adient.

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

Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Adient from a “sell” rating to a “hold” rating and set a $43.00 price target for the company in a research report on Thursday, August 12th. Royal Bank of Canada lowered their target price on shares of Adient from $58.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 6th. Morgan Stanley lowered their target price on shares of Adient from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 10th. Credit Suisse Group decreased their price objective on shares of Adient from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, August 9th. Finally, Benchmark reduced their target price on shares of Adient from $59.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, August 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Adient currently has an average rating of “Hold” and an average price target of $49.00.

Several institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc boosted its position in shares of Adient by 334.0% during the second quarter. IFP Advisors Inc now owns 651 shares of the company’s stock worth $29,000 after buying an additional 501 shares during the period. Captrust Financial Advisors lifted its position in shares of Adient by 59.7% during the 1st quarter. Captrust Financial Advisors now owns 701 shares of the company’s stock valued at $31,000 after acquiring an additional 262 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of Adient by 169.8% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,244 shares of the company’s stock valued at $54,000 after acquiring an additional 783 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Adient during the 2nd quarter valued at $71,000. Finally, Meeder Asset Management Inc. raised its stake in Adient by 68.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,362 shares of the company’s stock valued at $107,000 after purchasing an additional 960 shares during the period. Institutional investors own 90.25% of the company’s stock.

Shares of ADNT stock opened at $40.72 on Wednesday. The firm’s 50 day moving average price is $39.18 and its two-hundred day moving average price is $43.22. The stock has a market cap of $3.84 billion, a PE ratio of 34.80, a PEG ratio of 0.44 and a beta of 3.25. Adient has a 52-week low of $15.99 and a 52-week high of $53.17. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.90 and a current ratio of 1.13.

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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