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Market Update: Johnson Controls Inc (NYSE:JCI) – Johnson Controls Announces New Automotive Company to be Named Adient

[PR Newswire] – MILWAUKEE, Jan. 12, 2016 /PRNewswire/ — Johnson Controls, Inc., (JCI) today revealed that Adient will be the name of its automotive seating and interiors business after the entity is spun off into a new publicly traded company in October 2016. “Adient is a positive, powerful name that underscores our unique point of differentiation, namely, our ability to bring the right pieces together the right way, at precisely the right time, to deliver the best value for our customers,” said Bruce McDonald, current Johnson Controls vice chairman and future Chairman and Chief Executive Officer of Adient. The Adient name was announced today by McDonald as part of his presentation to investors at the Deutsche Bank Global Auto Industry Conference in Detroit, Michigan. Read more on this. Johnson Controls Inc. (JCI) , with a current value of $23.26B, started trading this morning at $35.81. Today, shares have traded between $35.17 and $36.24 per share with its 52-week range being $34.98 to $54.52. Priced at 9.35x this year’s forecasted earnings, JCI shares are relatively inexpensive compared to the industry’s 10.91x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $1.16 per share annually in dividends, yielding 3.28%. Consensus earnings for the current quarter by the 21 sell-side analysts covering the stock is an estimate of $0.82 per share, which would be $0.03 better than the year-ago quarter and a $0.03 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $3.78, which would be a $0.36 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $9.27 Billion. If reported, that would be a 13.12% decrease over the year-ago quarter. More recently, Oppenheimer Initiated JCI at Outperform (Jan 7, 2016). Previously, Nomura upgraded JCI from Neutral to Buy. The average price target for JCI shares by the analysts covering the stock is $51.35, which is 43.40% above where the stock opened this morning. See more in (NYSE:JCI) Similar Articles: Company Update (NYSE:JCI): Johnson Controls marks 50 years being listed on the New York Stock Exchange Company Update (NYSE:JCI): Johnson Controls appoints Simon Davis vice president, chief human resources officer Market Update: Johnson Controls Inc (NYSE:JCI) – Johnson Controls reports record fiscal third quarter earnings from continuing operations; Announces planned tax-free spin-off of its Automotive Experience business
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