Johnson Controls International (NYSE:JCI) Releases Earnings Results, Hits Estimates

Posted by Danessa Lincoln on Aug 6th, 2022

Johnson Controls International (NYSE:JCI – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85, Briefing.com reports. Johnson Controls International had a net margin of 5.00% and a return on equity of 11.10%. The company had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the business earned $0.83 earnings per share. Johnson Controls International’s revenue was up 4.3% compared to the same quarter last year.

Johnson Controls International Trading Up 0.9 %

Shares of NYSE JCI traded up $0.47 during mid-day trading on Friday, hitting $55.10. The stock had a trading volume of 4,328,020 shares, compared to its average volume of 4,558,414. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.78 and a current ratio of 1.00. Johnson Controls International has a 1 year low of $45.52 and a 1 year high of $81.77. The business has a 50 day moving average price of $50.40 and a two-hundred day moving average price of $58.67. The firm has a market cap of $38.33 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 1.23 and a beta of 1.18.

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Tuesday, June 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Friday, June 17th. Johnson Controls International’s payout ratio is 80.46%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Salem Investment Counselors Inc. increased its stake 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 worth $39,000 after buying an additional 355 shares during the period. High Net Worth Advisory Group LLC purchased a new position in shares of Johnson Controls International in the first quarter worth $46,000. Penserra Capital Management LLC increased its stake in shares of Johnson Controls International by 6.0% in 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 during the period. Bridgefront Capital LLC purchased a new position in shares of Johnson Controls International in the first quarter worth $232,000. Finally, Fund Management at Engine No. 1 LLC purchased a new position in shares of Johnson Controls International in the first quarter worth $390,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JCI has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of Johnson Controls International from $59.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Bank of America started coverage on shares of Johnson Controls International in a research report on Monday, May 2nd. They set a “buy” rating and a $85.00 target price for the company. Barclays dropped their target price on shares of Johnson Controls International from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Mizuho dropped their target price on shares of Johnson Controls International from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Finally, Cowen dropped their target price on shares of Johnson Controls International from $86.00 to $70.00 in a research report on Thursday, May 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.64.

Johnson Controls International Company Profile

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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.