Zacks Reiterates “Neutral” Rating for Johnson Controls (JCI)
Johnson Controls (NYSE:JCI)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Friday, American Banking and Market News reports. They currently have a $48.00 target price on the stock. Zacks‘ price target indicates a potential upside of 4.94% from the stock’s previous close.
Zacks‘ analyst wrote, “Earnings at Johnson Controls rose 32.7% to $0.69 per share in first-quarter fiscal 2014, in line with the Zacks Consensus Estimate. The year-over-year rise was driven by relentless focus on operational and cost efficiency. Revenues in the quarter went up 4.7% to $10.9 billion, beating the Zacks Consensus Estimate of $10.7 billion. Revenues benefited from enhanced global automotive production partially offset by lower Building Efficiency revenues. The company expects higher sales and earnings in fiscal 2014, based on its continued market leadership in core businesses and strong overall performance. Moreover, the company is poised to benefit from the recent acquisitions and partnerships. However, high competition and pressure to reduce prices are the downsides. As a result, we maintain our Neutral recommendation on the stock.”
Johnson Controls (NYSE:JCI) traded up 2.31% on Friday, hitting $46.7961. 3,271,175 shares of the company’s stock traded hands. Johnson Controls has a one year low of $30.58 and a one year high of $52.50. The stock’s 50-day moving average is $49.48 and its 200-day moving average is $45.37. The company has a market cap of $31.073 billion and a P/E ratio of 24.36.
Johnson Controls (NYSE:JCI) last released its earnings data on Thursday, January 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.69. The company had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.65 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Johnson Controls will post $3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of 0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, March 5th.
A number of other analysts have also recently weighed in on JCI. Analysts at UBS AG cut their price target on shares of Johnson Controls to $51.00 in a research note to investors on Friday, January 24th. They now have a “neutral” rating on the stock. Separately, analysts at Ned Davis Research downgraded shares of Johnson Controls from a “buy” rating to a “neutral” rating in a research note to investors on Monday, December 30th. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Johnson Controls in a research note to investors on Friday, December 13th. They now have a $55.00 price target on the stock, up previously from $50.00. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Johnson Controls currently has a consensus rating of “Hold” and an average price target of $60.67.
Johnson Controls, Inc (NYSE:JCI) manufactures, installs and services automatic temperature regulation systems for buildings.
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