Johnson Controls International (NYSE:JCI) Releases Q3 Earnings Guidance

Johnson Controls International (NYSE:JCI) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.05-$1.10 for the period, compared to the consensus estimate of $1.21. Johnson Controls International also updated its FY 2024 guidance to 3.600-3.750 EPS.

Johnson Controls International Trading Up 2.7 %

Shares of JCI traded up $1.63 on Friday, hitting $62.38. 7,096,178 shares of the stock traded hands, compared to its average volume of 4,978,445. The company has a quick ratio of 0.73, a current ratio of 0.87 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $42.02 billion, a P/E ratio of 25.26, a P/E/G ratio of 1.55 and a beta of 1.23. The stock’s 50 day moving average is $63.31 and its two-hundred day moving average is $57.22. Johnson Controls International has a 1 year low of $47.90 and a 1 year high of $70.43.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.51 billion. Johnson Controls International had a net margin of 6.32% and a return on equity of 13.21%. Johnson Controls International’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, sell-side analysts predict that Johnson Controls International will post 3.61 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Monday, March 25th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, March 22nd. Johnson Controls International’s dividend payout ratio is currently 59.92%.

Wall Street Analyst Weigh In

JCI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a hold rating and issued a $60.00 price objective (down previously from $65.00) on shares of Johnson Controls International in a research report on Wednesday, January 31st. Oppenheimer lowered their price target on shares of Johnson Controls International from $71.00 to $70.00 and set an outperform rating for the company in a report on Thursday. Wells Fargo & Company raised their price target on shares of Johnson Controls International from $64.00 to $73.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Mizuho lowered shares of Johnson Controls International from a buy rating to a neutral rating and set a $62.00 price target for the company. in a report on Friday, February 23rd. Finally, Royal Bank of Canada lowered their price target on shares of Johnson Controls International from $50.00 to $48.00 and set an underperform rating for the company in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Johnson Controls International has a consensus rating of Hold and a consensus target price of $64.25.

Johnson Controls International Company Profile

Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products and systems in the United States, Europe, the Asia Pacific, and internationally. It operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.