Johnson Controls International (NYSE:JCI) Updates Q2 Earnings Guidance

Johnson Controls International (NYSE:JCI – Get Rating) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.72-0.74 for the period, compared to the consensus earnings per share estimate of $0.76. Johnson Controls International also updated its FY 2023 guidance to $3.30-$3.60 EPS.

Analysts Set New Price Targets

Several brokerages recently issued reports on JCI. Oppenheimer upped their price target on Johnson Controls International from $68.00 to $76.00 in a report on Friday, December 2nd. Morgan Stanley upped their price objective on Johnson Controls International from $67.00 to $73.00 and gave the company an overweight rating in a research note on Friday, January 6th. Royal Bank of Canada upped their price objective on Johnson Controls International from $53.00 to $61.00 in a research note on Friday, November 4th. Credit Suisse Group upped their price objective on Johnson Controls International from $63.00 to $65.00 and gave the company an outperform rating in a research note on Friday, November 4th. Finally, Bank of America downgraded Johnson Controls International from a buy rating to a neutral rating and cut their price target for the stock from $85.00 to $72.00 in a research note on Monday, December 12th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $71.14.

Johnson Controls International Price Performance

JCI traded down $3.96 during trading on Wednesday, reaching $65.61. 4,864,474 shares of the company were exchanged, compared to its average volume of 3,098,313. The company’s 50-day moving average is $66.20 and its two-hundred day moving average is $59.42. The company has a market cap of $45.09 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 1.46 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. Johnson Controls International has a 12-month low of $45.52 and a 12-month high of $74.70.

Johnson Controls International (NYSE:JCI – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Johnson Controls International had a return on equity of 11.83% and a net margin of 6.06%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts forecast that Johnson Controls International will post 3.48 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Monday, December 19th were given a dividend of $0.35 per share. The ex-dividend date was Friday, December 16th. This represents a $1.40 annualized dividend and a yield of 2.13%. Johnson Controls International’s payout ratio is 63.35%.

Insider Buying and Selling

In related news, EVP Michael J. Ellis sold 28,825 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $65.15, for a total transaction of $1,877,948.75. Following the transaction, the executive vice president now directly owns 8,101 shares in the company, valued at approximately $527,780.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Michael J. Ellis sold 28,825 shares of Johnson Controls International stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $65.15, for a total value of $1,877,948.75. Following the sale, the executive vice president now directly owns 8,101 shares in the company, valued at approximately $527,780.15. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael J. Ellis sold 1,194 shares of Johnson Controls International stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $66.16, for a total value of $78,995.04. Following the completion of the sale, the executive vice president now owns 11,902 shares in the company, valued at $787,436.32. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Capital World Investors raised its stake in Johnson Controls International by 3.7% during the first quarter. Capital World Investors now owns 5,209,561 shares of the company’s stock valued at $341,591,000 after buying an additional 187,923 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Johnson Controls International by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,494,612 shares of the company’s stock valued at $229,142,000 after buying an additional 72,453 shares during the last quarter. Eaton Vance Management raised its stake in Johnson Controls International by 18.4% during the first quarter. Eaton Vance Management now owns 2,316,667 shares of the company’s stock valued at $151,904,000 after buying an additional 359,341 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Johnson Controls International by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,089,713 shares of the company’s stock valued at $137,023,000 after buying an additional 404,842 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Johnson Controls International by 6.2% during the first quarter. First Trust Advisors LP now owns 1,995,719 shares of the company’s stock valued at $130,859,000 after buying an additional 116,725 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

About Johnson Controls International

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Johnson Controls International Plc engages in the provision of building products, energy solutions, integrated infrastructure and next generation transportation systems. Its technology and service capabilities include fire, security, HVAC, power solutions and energy storage to serve various end markets including large institutions, commercial buildings, retail, industrial, small business and residential.