Johnson Controls International (JCI) Cut to “Underperform” at Royal Bank of Canada

Royal Bank of Canada cut shares of Johnson Controls International (NYSE:JCI) from a sector perform rating to an underperform rating in a report released on Thursday, Marketbeat reports.

JCI has been the subject of a number of other reports. Goldman Sachs downgraded Johnson Controls International from a neutral rating to a sell rating and increased their price target for the stock from $37.36 to $44.00 in a report on Thursday, December 7th. Zacks Investment Research upgraded Johnson Controls International from a hold rating to a buy rating and set a $38.00 price target for the company in a report on Wednesday. TheStreet downgraded Johnson Controls International from a b rating to a c+ rating in a report on Monday, December 18th. Cowen downgraded Johnson Controls International from an outperform rating to a market perform rating and decreased their price target for the stock from $44.00 to $42.00 in a report on Thursday, January 18th. Finally, Robert W. Baird downgraded Johnson Controls International from an outperform rating to a neutral rating and decreased their price target for the stock from $48.00 to $42.00 in a report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $45.25.

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NYSE JCI opened at $33.64 on Thursday. The firm has a market capitalization of $31,154.78, a P/E ratio of 12.94, a P/E/G ratio of 1.11 and a beta of 0.86. Johnson Controls International has a twelve month low of $33.43 and a twelve month high of $44.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 0.80.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Wednesday, January 31st. The auto parts company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. Johnson Controls International had a return on equity of 11.73% and a net margin of 5.92%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the prior year, the business posted $0.53 earnings per share. Johnson Controls International’s quarterly revenue was up 4.8% on a year-over-year basis. sell-side analysts anticipate that Johnson Controls International will post 2.79 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Monday, March 19th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $1.04 annualized dividend and a dividend yield of 3.09%. Johnson Controls International’s dividend payout ratio is presently 40.00%.

In other news, insider Rodney M. Rushing sold 14,199 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $37.88, for a total value of $537,858.12. Following the completion of the sale, the insider now directly owns 39,847 shares in the company, valued at approximately $1,509,404.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.43% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Trustco Bank Corp N Y acquired a new stake in shares of Johnson Controls International in the 3rd quarter valued at about $452,000. Gofen & Glossberg LLC IL grew its stake in shares of Johnson Controls International by 1.6% in the 4th quarter. Gofen & Glossberg LLC IL now owns 230,955 shares of the auto parts company’s stock valued at $8,802,000 after buying an additional 3,558 shares during the period. Moors & Cabot Inc. grew its stake in shares of Johnson Controls International by 83.7% in the 3rd quarter. Moors & Cabot Inc. now owns 44,482 shares of the auto parts company’s stock valued at $1,787,000 after buying an additional 20,262 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Johnson Controls International by 19.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 637,917 shares of the auto parts company’s stock valued at $25,701,000 after buying an additional 102,274 shares during the period. Finally, HM Payson & Co. acquired a new stake in shares of Johnson Controls International in the 4th quarter valued at about $3,937,000. Institutional investors own 91.14% of the company’s stock.

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Johnson Controls International Company Profile

Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The company operates through Building Technologies & Solutions and Power Solutions segments. It designs, sells, controls, installs heating, ventilating, and air conditioning systems. The company also provides residential air conditioning and heating systems, and industrial refrigeration products, as well as technical and energy management consulting services.

Analyst Recommendations for Johnson Controls International (NYSE:JCI)

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