Johnson Controls International (NYSE:JCI) Announces Quarterly Earnings Results

Johnson Controls International (NYSE:JCI) issued its quarterly earnings data on Wednesday. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06, Briefing.com reports. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.53 billion. Johnson Controls International had a net margin of 6.02% and a return on equity of 13.64%. Johnson Controls International’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. Johnson Controls International updated its FY 2024 guidance to 3.660-3.690 EPS and its Q4 2024 guidance to 1.230-1.260 EPS.

Johnson Controls International Stock Down 4.1 %

Shares of Johnson Controls International stock traded down $2.91 during trading on Friday, hitting $67.42. 10,348,378 shares of the stock traded hands, compared to its average volume of 4,792,278. The company has a fifty day moving average price of $69.25 and a two-hundred day moving average price of $64.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.65 and a current ratio of 0.96. Johnson Controls International has a twelve month low of $47.90 and a twelve month high of $75.36. The stock has a market cap of $45.04 billion, a P/E ratio of 27.30, a PEG ratio of 1.79 and a beta of 1.28.

Johnson Controls International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, June 24th were issued a dividend of $0.37 per share. The ex-dividend date was Monday, June 24th. This represents a $1.48 annualized dividend and a dividend yield of 2.20%. Johnson Controls International’s dividend payout ratio is 59.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on JCI shares. Robert W. Baird increased their target price on Johnson Controls International from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada increased their target price on Johnson Controls International from $54.00 to $61.00 and gave the stock an “underperform” rating in a research report on Thursday. The Goldman Sachs Group raised their price target on Johnson Controls International from $73.00 to $81.00 and gave the company a “buy” rating in a report on Friday. StockNews.com raised Johnson Controls International from a “hold” rating to a “buy” rating in a report on Friday. Finally, Barclays lowered their target price on Johnson Controls International from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.69.

Insider Activity at Johnson Controls International

In related news, COO Nathan D. Manning sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $62.86, for a total value of $188,580.00. Following the transaction, the chief operating officer now directly owns 106,891 shares of the company’s stock, valued at approximately $6,719,168.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Daniel C. Mcconeghy sold 9,342 shares of Johnson Controls International stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.50, for a total transaction of $611,901.00. Following the sale, the vice president now owns 25,378 shares of the company’s stock, valued at approximately $1,662,259. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Nathan D. Manning sold 3,000 shares of Johnson Controls International stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $62.86, for a total value of $188,580.00. Following the sale, the chief operating officer now directly owns 106,891 shares in the company, valued at approximately $6,719,168.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,048 shares of company stock valued at $1,234,530. Corporate insiders own 0.69% of the company’s stock.

Johnson Controls International Company Profile

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.