Adient PLC (ADNT) Expected to Post Earnings of $2.18 Per Share
Wall Street brokerages predict that Adient PLC (NASDAQ:ADNT) will announce earnings per share (EPS) of $2.18 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Adient PLC’s earnings, with estimates ranging from $2.12 to $2.25. The firm is scheduled to report its next quarterly earnings results on Tuesday, December 5th.
According to Zacks, analysts expect that Adient PLC will report full year earnings of $9.33 per share for the current financial year, with EPS estimates ranging from $9.27 to $9.39. For the next financial year, analysts forecast that the business will report earnings of $10.11 per share, with EPS estimates ranging from $9.20 to $10.65. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Adient PLC.
Adient PLC (NASDAQ:ADNT) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.02. Adient PLC had a net margin of 5.63% and a return on equity of 21.65%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business earned $2.43 EPS. The company’s revenue for the quarter was down 7.9% on a year-over-year basis.
Several research firms have recently weighed in on ADNT. Zacks Investment Research upgraded Adient PLC from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $85.00 target price on shares of Adient PLC in a research report on Wednesday, June 28th. Guggenheim began coverage on Adient PLC in a research report on Wednesday, June 21st. They set a “neutral” rating and a $65.00 target price for the company. Morgan Stanley decreased their target price on Adient PLC from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Finally, Bank of America Corporation reiterated an “underperform” rating and set a $40.00 target price (down from $50.00) on shares of Adient PLC in a research report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.87.
In related news, Chairman R Bruce Mcdonald sold 4,607 shares of Adient PLC stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $68.67, for a total value of $316,362.69. Following the completion of the sale, the chairman now directly owns 4,818 shares in the company, valued at $330,852.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Byron S. Foster sold 1,316 shares of Adient PLC stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $69.85, for a total value of $91,922.60. Following the completion of the sale, the insider now owns 67,845 shares of the company’s stock, valued at $4,738,973.25. The disclosure for this sale can be found here.
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Shares of Adient PLC (NASDAQ:ADNT) traded up 0.86% on Friday, reaching $82.95. 439,759 shares of the company’s stock traded hands. The stock has a 50-day moving average of $77.42 and a 200 day moving average of $77.42. The firm’s market cap is $7.72 billion. Adient PLC has a 12-month low of $39.66 and a 12-month high of $83.58.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, October 18th will be issued a $0.275 dividend. The ex-dividend date is Tuesday, October 17th. This represents a $1.10 annualized dividend and a dividend yield of 1.33%.
About Adient PLC
Adient plc, formerly Adient Limited, is an automotive seating supplier. The Company designs, manufactures and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks, including vans, pick-up trucks, and sport/crossover utility vehicles. The Company operates through two segments: Seating and Interiors.
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