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

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

Johnson Controls International Price Performance

Johnson Controls International stock traded up $1.63 on Friday, reaching $62.38. The company’s stock had a trading volume of 7,096,178 shares, compared to its average volume of 4,978,445. The business’s fifty day moving average price is $63.31 and its 200 day moving average price is $57.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 0.87. The company has a market cap of $42.02 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.55 and a beta of 1.23. Johnson Controls International has a twelve month low of $47.90 and a twelve month high of $70.43.

Johnson Controls International (NYSE:JCI) last announced its earnings results on Wednesday, May 1st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. Johnson Controls International had a net margin of 6.32% and a return on equity of 13.21%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.51 billion. During the same period in the prior year, the business earned $0.75 earnings per share. Johnson Controls International’s quarterly revenue was down 6.1% on a year-over-year basis. Equities analysts expect that Johnson Controls International will post 3.61 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on JCI. HSBC cut shares of Johnson Controls International from a buy rating to a hold rating and set a $60.00 price target for the company. in a research report on Wednesday, January 31st. Citigroup upped their price objective on Johnson Controls International from $59.00 to $68.00 and gave the company a neutral rating in a report on Monday, April 8th. Argus lowered Johnson Controls International from a buy rating to a hold rating in a research report on Tuesday, February 20th. StockNews.com lowered shares of Johnson Controls International from a buy rating to a hold rating in a research note on Thursday, January 25th. Finally, Oppenheimer cut their target price on shares of Johnson Controls International from $71.00 to $70.00 and set an outperform rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $64.25.

About Johnson Controls International

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.