Zacks: Analysts Anticipate Adient plc (NYSE:ADNT) to Post $0.01 EPS

Equities research analysts predict that Adient plc (NYSE:ADNT) will post earnings per share of $0.01 for the current quarter, Zacks reports. Two analysts have provided estimates for Adient’s earnings, with estimates ranging from ($0.07) to $0.06. Adient reported earnings per share of $1.15 in the same quarter last year, which suggests a negative year over year growth rate of 99.1%. The business is scheduled to announce its next quarterly earnings results on Monday, November 29th.

According to Zacks, analysts expect that Adient will report full year earnings of $2.20 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $2.41. For the next year, analysts anticipate that the firm will report earnings of $5.93 per share, with EPS estimates ranging from $4.15 to $10.06. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Adient.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, August 4th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.68). The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Adient had a return on equity of 18.97% and a net margin of 0.77%. The business’s quarterly revenue was up 99.4% on a year-over-year basis. During the same period last year, the company posted ($2.78) earnings per share.

ADNT has been the subject of several research analyst reports. Credit Suisse Group dropped their price objective on Adient from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, August 9th. Morgan Stanley dropped their price objective on Adient from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, August 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on Adient from $57.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, August 6th. Wells Fargo & Company dropped their price objective on Adient from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, September 10th. Finally, Benchmark dropped their price objective on Adient from $59.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, August 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $49.00.

A number of large investors have recently made changes to their positions in ADNT. FMR LLC grew its holdings in Adient by 21.9% during the 1st quarter. FMR LLC now owns 1,008,304 shares of the company’s stock valued at $13,067,000 after buying an additional 181,235 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Adient during the 1st quarter valued at $9,031,000. Alliancebernstein L.P. boosted its holdings in shares of Adient by 1.1% during the first quarter. Alliancebernstein L.P. now owns 224,041 shares of the company’s stock worth $9,903,000 after purchasing an additional 2,420 shares during the last quarter. The PNC Financial Services Group Inc. boosted its holdings in shares of Adient by 70.9% during the first quarter. The PNC Financial Services Group Inc. now owns 8,697 shares of the company’s stock worth $383,000 after purchasing an additional 3,607 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Adient by 0.8% during the first quarter. Swiss National Bank now owns 203,798 shares of the company’s stock worth $9,008,000 after purchasing an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Shares of ADNT stock opened at $36.95 on Monday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 0.48 and a beta of 3.25. The stock has a 50 day simple moving average of $39.12 and a 200-day simple moving average of $43.23. Adient has a 12-month low of $15.90 and a 12-month high of $53.17. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 1.96.

About Adient

Adient plc manufactures automotive seating systems. The firm’s products include Complete Seats, Commercial vehicle seats, Structures & Mechanisms, Foam, Fabrics and Trim. It operates through the following geographical segments: Americas, EMEA and Asia. The company was founded on December 17, 2015 and is headquartered Dublin, Ireland.

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