Johnson Controls International (NYSE:JCI) Issues FY24 Earnings Guidance

Johnson Controls International (NYSE:JCI) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.60-$3.75 for the period, compared to the consensus earnings per share estimate of $3.60. Johnson Controls International also updated its FY 2024 guidance to 3.600-3.750 EPS.

Johnson Controls International Stock Performance

JCI stock traded up $1.63 during trading on Friday, hitting $62.38. 7,096,178 shares of the company’s stock traded hands, compared to its average volume of 4,978,445. The stock has a fifty day moving average price of $63.31 and a two-hundred day moving average price of $57.22. The company has a quick ratio of 0.73, a current ratio of 0.87 and a debt-to-equity ratio of 0.44. Johnson Controls International has a 52 week low of $47.90 and a 52 week high of $70.43. The stock has a market capitalization of $42.02 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23.

Johnson Controls International (NYSE:JCI) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. Johnson Controls International had a net margin of 6.32% and a return on equity of 13.21%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.51 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson Controls International will post 3.61 EPS for the current fiscal year.

Johnson Controls International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Monday, March 25th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, March 22nd. Johnson Controls International’s payout ratio is 59.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Johnson Controls International from $50.00 to $48.00 and set an underperform rating for the company in a research report on Wednesday, January 31st. Oppenheimer decreased their price target on Johnson Controls International from $71.00 to $70.00 and set an outperform rating for the company in a research note on Thursday. Argus cut shares of Johnson Controls International from a buy rating to a hold rating in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $60.00 target price (down previously from $65.00) on shares of Johnson Controls International in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company upped their price target on shares of Johnson Controls International from $64.00 to $73.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Johnson Controls International has a consensus rating of Hold and a consensus target price of $64.25.

About Johnson Controls International

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.