Johnson Controls International PLC (NYSE:JCI) – Analysts at William Blair increased their Q3 2019 earnings per share estimates for Johnson Controls International in a research report issued to clients and investors on Wednesday, May 1st, according to Zacks Investment Research. William Blair analyst N. Heymann now expects that the company will post earnings per share of $0.64 for the quarter, up from their previous estimate of $0.60. William Blair also issued estimates for Johnson Controls International’s Q4 2019 earnings at $0.73 EPS and FY2019 earnings at $1.95 EPS.
Johnson Controls International (NYSE:JCI) last announced its earnings results on Wednesday, May 1st. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Johnson Controls International had a return on equity of 9.85% and a net margin of 8.52%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.79 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Johnson Controls International from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, May 7th. Credit Suisse Group began coverage on Johnson Controls International in a research report on Monday, May 13th. They issued a “neutral” rating and a $42.00 price target for the company. TheStreet upgraded Johnson Controls International from a “c+” rating to a “b-” rating in a research report on Thursday, May 9th. Wells Fargo & Co upgraded Johnson Controls International from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Monday, March 18th. Finally, Cowen restated a “hold” rating and issued a $32.00 price target (down from $38.00) on shares of Johnson Controls International in a research report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Johnson Controls International presently has a consensus rating of “Hold” and an average price target of $39.45.
Shares of Johnson Controls International stock traded up $0.40 during mid-day trading on Monday, reaching $39.49. 6,473,657 shares of the stock traded hands, compared to its average volume of 4,814,616. Johnson Controls International has a fifty-two week low of $28.30 and a fifty-two week high of $40.33. The stock has a market capitalization of $34.92 billion, a P/E ratio of 13.95, a PEG ratio of 2.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.80.
Johnson Controls International announced that its board has authorized a share buyback plan on Thursday, March 7th that allows the company to repurchase $8.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 26% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other news, insider Rodney M. Rushing sold 29,728 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $39.03, for a total transaction of $1,160,283.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Oliver sold 11,425 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $39.53, for a total value of $451,630.25. Following the transaction, the chief executive officer now owns 865,142 shares of the company’s stock, valued at $34,199,063.26. The disclosure for this sale can be found here. Insiders sold 175,384 shares of company stock valued at $6,861,650 over the last quarter. 0.50% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in JCI. Teacher Retirement System of Texas raised its stake in Johnson Controls International by 68.4% in the first quarter. Teacher Retirement System of Texas now owns 1,011,447 shares of the company’s stock valued at $37,363,000 after buying an additional 410,863 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in Johnson Controls International in the fourth quarter valued at $1,192,000. Citizens Financial Group Inc RI raised its stake in Johnson Controls International by 18.8% in the fourth quarter. Citizens Financial Group Inc RI now owns 2,349 shares of the company’s stock valued at $70,000 after buying an additional 372 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Johnson Controls International in the fourth quarter valued at $255,000. Finally, State of Alaska Department of Revenue raised its stake in Johnson Controls International by 2.8% in the fourth quarter. State of Alaska Department of Revenue now owns 153,773 shares of the company’s stock valued at $4,558,000 after buying an additional 4,123 shares in the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.
Johnson Controls International Company Profile
Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The company operates through Building Technologies & Solutions and Power Solutions segments. The company designs, sells, installs, and services heating, ventilating, and air conditioning systems, controls systems, integrated electronic security systems, and integrated fire detection and suppression systems for commercial, industrial, retail, small business, institutional, and governmental customers; and energy efficiency solutions and technical services, including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems, to non-residential building and industrial applications.