Johnson Controls International (NYSE:JCI) Updates FY 2024 Earnings Guidance

Johnson Controls International (NYSE:JCI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.660-3.690 for the period, compared to the consensus earnings per share estimate of 3.580. The company issued revenue guidance of -. Johnson Controls International also updated its Q4 2024 guidance to 1.230-1.260 EPS.

Johnson Controls International Price Performance

Shares of JCI stock traded down $2.91 on Friday, reaching $67.42. The company’s stock had a trading volume of 10,348,378 shares, compared to its average volume of 4,792,278. The stock’s fifty day simple moving average is $69.25 and its 200-day simple moving average is $64.39. Johnson Controls International has a 1 year low of $47.90 and a 1 year high of $75.36. The company has a current ratio of 0.96, a quick ratio of 0.65 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $45.04 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 1.79 and a beta of 1.28.

Johnson Controls International (NYSE:JCI) last posted its earnings results on Wednesday, July 31st. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Johnson Controls International had a net margin of 6.02% and a return on equity of 13.64%. The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the firm posted $1.03 earnings per share. Johnson Controls International’s revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts forecast that Johnson Controls International will post 3.67 earnings per share for the current fiscal year.

Johnson Controls International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Monday, June 24th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, June 24th. Johnson Controls International’s dividend payout ratio (DPR) is 59.92%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JCI. UBS Group cut shares of Johnson Controls International from a buy rating to a neutral rating and cut their price objective for the company from $74.00 to $68.00 in a research report on Monday, May 6th. Robert W. Baird boosted their price objective on shares of Johnson Controls International from $72.00 to $78.00 and gave the company a neutral rating in a research report on Thursday. Oppenheimer boosted their target price on shares of Johnson Controls International from $70.00 to $76.00 and gave the company an outperform rating in a research note on Thursday, June 27th. Barclays lowered their target price on shares of Johnson Controls International from $62.00 to $61.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Finally, Citigroup boosted their target price on shares of Johnson Controls International from $59.00 to $68.00 and gave the company a neutral rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $67.69.

Insider Buying and Selling

In related news, VP Daniel C. Mcconeghy sold 9,342 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.50, for a total value of $611,901.00. Following the completion of the sale, the vice president now directly owns 25,378 shares of the company’s stock, valued at $1,662,259. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Johnson Controls International news, Director Juergen Tinggren sold 4,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $62.31, for a total transaction of $249,240.00. Following the completion of the sale, the director now directly owns 30,120 shares of the company’s stock, valued at $1,876,777.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Daniel C. Mcconeghy sold 9,342 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.50, for a total transaction of $611,901.00. Following the sale, the vice president now directly owns 25,378 shares of the company’s stock, valued at $1,662,259. The disclosure for this sale can be found here. Insiders sold a total of 19,048 shares of company stock valued at $1,234,530 over the last three months. 0.69% of the stock is owned by company insiders.

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.