Adient PLC (NYSE:ADNT) – KeyCorp lowered their FY2020 earnings estimates for Adient in a note issued to investors on Wednesday, August 7th. KeyCorp analyst J. Picariello now forecasts that the company will earn $1.40 per share for the year, down from their prior estimate of $1.55.
Adient (NYSE:ADNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.07. Adient had a positive return on equity of 8.35% and a negative net margin of 11.00%. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year.
Other equities analysts have also issued reports about the company. UBS Group set a $30.00 price target on Adient and gave the company a “buy” rating in a research note on Wednesday. Buckingham Research set a $19.00 price target on Adient and gave the company a “sell” rating in a research note on Wednesday, May 8th. Bank of America upgraded Adient from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, April 12th. Credit Suisse Group began coverage on Adient in a research note on Wednesday, June 26th. They set a “neutral” rating and a $24.00 price target on the stock. Finally, Morgan Stanley set a $12.00 price target on Adient and gave the company a “sell” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.47.
ADNT traded down $0.63 on Friday, hitting $23.81. 27,515 shares of the stock traded hands, compared to its average volume of 1,779,463. Adient has a 52 week low of $12.15 and a 52 week high of $47.06. The company has a quick ratio of 0.77, a current ratio of 1.07 and a debt-to-equity ratio of 1.65. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 4.24 and a beta of 3.19. The business has a fifty day moving average of $22.72.
Several hedge funds have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp bought a new stake in Adient in the 2nd quarter worth about $244,000. BB&T Securities LLC lifted its stake in shares of Adient by 5.8% during the 2nd quarter. BB&T Securities LLC now owns 23,687 shares of the company’s stock valued at $574,000 after buying an additional 1,298 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Adient by 10.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,908 shares of the company’s stock valued at $10,579,000 after buying an additional 41,605 shares in the last quarter. Stone Ridge Asset Management LLC lifted its stake in shares of Adient by 48.7% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 65,336 shares of the company’s stock valued at $1,586,000 after buying an additional 21,400 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Adient by 2.2% during the 2nd quarter. Swiss National Bank now owns 165,298 shares of the company’s stock valued at $4,012,000 after buying an additional 3,600 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.
Adient Company Profile
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.
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