Johnson Controls International (NYSE:JCI) Posts Earnings Results, Meets Expectations

Johnson Controls International (NYSE:JCIGet Rating) issued its quarterly earnings data on Thursday. The company reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85, Briefing.com reports. Johnson Controls International had a return on equity of 11.10% and a net margin of 5.00%. The firm had revenue of $6.61 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis.

Johnson Controls International Price Performance

JCI stock traded up $0.47 during mid-day trading on Friday, reaching $55.10. 4,328,020 shares of the company’s stock were exchanged, compared to its average volume of 4,558,414. The company has a market cap of $38.33 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 1.23 and a beta of 1.18. The stock’s 50 day moving average is $50.40 and its 200 day moving average is $58.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.00 and a quick ratio of 0.78. Johnson Controls International has a 12-month low of $45.52 and a 12-month high of $81.77.

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Tuesday, June 21st were given a dividend of $0.35 per share. The ex-dividend date was Friday, June 17th. This represents a $1.40 dividend on an annualized basis and a yield of 2.54%. Johnson Controls International’s dividend payout ratio is currently 80.46%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JCI. Morgan Stanley reduced their target price on Johnson Controls International from $59.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. Jefferies Financial Group cut their price objective on Johnson Controls International from $70.00 to $65.00 in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft cut their price objective on Johnson Controls International from $70.00 to $61.00 in a report on Wednesday, July 13th. TheStreet lowered Johnson Controls International from a “b” rating to a “c+” rating in a report on Wednesday, May 4th. Finally, Oppenheimer cut their price objective on Johnson Controls International from $85.00 to $70.00 in a report on Thursday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Johnson Controls International presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.64.

Hedge Funds Weigh In On Johnson Controls International

A number of hedge funds have recently bought and sold shares of the business. Salem Investment Counselors Inc. lifted its position in shares of Johnson Controls International by 152.4% in the first quarter. Salem Investment Counselors Inc. now owns 588 shares of the company’s stock valued at $39,000 after acquiring an additional 355 shares in the last quarter. High Net Worth Advisory Group LLC purchased a new position in shares of Johnson Controls International in the first quarter valued at approximately $46,000. Penserra Capital Management LLC lifted its position in Johnson Controls International by 6.0% during the first quarter. Penserra Capital Management LLC now owns 3,381 shares of the company’s stock worth $221,000 after buying an additional 192 shares in the last quarter. Bridgefront Capital LLC purchased a new position in Johnson Controls International during the first quarter worth approximately $232,000. Finally, Fund Management at Engine No. 1 LLC purchased a new position in Johnson Controls International during the first quarter worth approximately $390,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Johnson Controls International

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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.

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Earnings History for Johnson Controls International (NYSE:JCI)

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