Zacks: Brokerages Expect Adient PLC (ADNT) to Announce $1.32 Earnings Per Share

Share on StockTwits

Equities analysts expect Adient PLC (NYSE:ADNT) to announce $1.32 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Adient’s earnings, with the lowest EPS estimate coming in at $1.09 and the highest estimate coming in at $1.57. Adient posted earnings per share of $2.34 in the same quarter last year, which would suggest a negative year over year growth rate of 43.6%. The business is scheduled to announce its next earnings results before the market opens on Friday, November 9th.

On average, analysts expect that Adient will report full-year earnings of $5.70 per share for the current financial year, with EPS estimates ranging from $5.45 to $5.94. For the next year, analysts anticipate that the company will report earnings of $6.73 per share, with EPS estimates ranging from $5.98 to $7.70. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Adient.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Thursday, July 26th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.11). The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Adient had a net margin of 0.08% and a return on equity of 14.27%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.52 earnings per share.

Several research firms have issued reports on ADNT. Wells Fargo & Co reaffirmed a “hold” rating and issued a $30.00 price target (down from $50.00) on shares of Adient in a report on Wednesday. Buckingham Research cut their price target on shares of Adient from $54.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, October 3rd. ValuEngine lowered shares of Adient from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Bank of America raised shares of Adient from an “underperform” rating to a “hold” rating and set a $44.00 price target on the stock in a report on Thursday, September 13th. Finally, Zacks Investment Research raised shares of Adient from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Adient currently has an average rating of “Hold” and an average price target of $53.92.

ADNT stock traded down $0.98 during trading on Friday, hitting $30.78. 40,825 shares of the company’s stock traded hands, compared to its average volume of 1,321,508. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 3.40, a PEG ratio of 0.57 and a beta of -0.60. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. Adient has a 1 year low of $29.55 and a 1 year high of $86.26.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 24th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Tuesday, October 23rd. Adient’s dividend payout ratio is currently 11.76%.

Several institutional investors and hedge funds have recently made changes to their positions in ADNT. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Adient by 57.1% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,341,552 shares of the company’s stock valued at $558,251,000 after buying an additional 3,394,306 shares during the last quarter. Newtyn Management LLC grew its holdings in shares of Adient by 34.3% during the second quarter. Newtyn Management LLC now owns 1,800,000 shares of the company’s stock valued at $88,542,000 after buying an additional 460,000 shares during the last quarter. Towle & Co. grew its holdings in shares of Adient by 69.0% during the second quarter. Towle & Co. now owns 1,033,994 shares of the company’s stock valued at $50,862,000 after buying an additional 422,270 shares during the last quarter. Letko Brosseau & Associates Inc. grew its holdings in shares of Adient by 22.6% during the second quarter. Letko Brosseau & Associates Inc. now owns 1,299,232 shares of the company’s stock valued at $63,909,000 after buying an additional 239,108 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Adient by 54.7% during the second quarter. Bank of America Corp DE now owns 602,133 shares of the company’s stock valued at $29,619,000 after buying an additional 212,787 shares during the last quarter. 97.85% of the stock is currently owned by hedge funds and other institutional investors.

Adient Company Profile

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.

Featured Story: Cash Flow Analysis in Stock Selection

Get a free copy of the Zacks research report on Adient (ADNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Adient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adient and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply