Adient (NYSE:ADNT) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Adient (NYSE:ADNT) announced its quarterly earnings results on Friday. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.39 by $0.15, Briefing.com reports. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.80 billion. Adient had a return on equity of 7.90% and a net margin of 1.39%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. Adient updated its FY 2024 guidance to EPS.

Adient Trading Down 9.3 %

ADNT traded down $2.81 during trading on Friday, hitting $27.41. The company’s stock had a trading volume of 2,258,260 shares, compared to its average volume of 1,106,294. The firm’s 50 day moving average price is $31.82 and its 200-day moving average price is $33.31. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.15 and a quick ratio of 0.91. The stock has a market cap of $2.50 billion, a PE ratio of 12.24, a PEG ratio of 0.31 and a beta of 2.39. Adient has a twelve month low of $26.97 and a twelve month high of $46.51.

Wall Street Analyst Weigh In

ADNT has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on Adient from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. Barclays reaffirmed an “equal weight” rating and issued a $37.00 target price (down previously from $41.00) on shares of Adient in a research note on Wednesday, April 10th. JPMorgan Chase & Co. reduced their target price on Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, Bank of America reduced their target price on Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus target price of $42.43.

Insider Buying and Selling at Adient

In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total value of $336,800.00. Following the completion of the transaction, the executive vice president now directly owns 55,669 shares in the company, valued at approximately $1,874,931.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Adient Company Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.