Zacks: Analysts Expect Adient PLC (NYSE:ADNT) Will Announce Earnings of $0.31 Per Share

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Equities research analysts expect that Adient PLC (NYSE:ADNT) will announce $0.31 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Adient’s earnings. The highest EPS estimate is $0.56 and the lowest is $0.15. Adient posted earnings of $0.63 per share during the same quarter last year, which indicates a negative year over year growth rate of 50.8%. The business is expected to report its next quarterly earnings results on Thursday, November 5th.

According to Zacks, analysts expect that Adient will report full year earnings of ($0.89) per share for the current financial year, with EPS estimates ranging from ($1.05) to ($0.65). For the next year, analysts anticipate that the firm will post earnings of $2.13 per share, with EPS estimates ranging from $1.85 to $2.38. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Adient.

Adient (NYSE:ADNT) last released its earnings results on Thursday, August 6th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.08) by ($0.70). The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Adient had a negative net margin of 3.96% and a negative return on equity of 2.80%. Adient’s revenue for the quarter was down 61.5% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share.

ADNT has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Adient from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. ValuEngine downgraded shares of Adient from a “buy” rating to a “hold” rating in a research report on Tuesday, September 1st. Morgan Stanley increased their target price on shares of Adient from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wolfe Research raised shares of Adient from a “peer perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Adient from $11.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, June 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.23.

NYSE:ADNT traded down $0.05 on Tuesday, reaching $17.87. The stock had a trading volume of 459,457 shares, compared to its average volume of 893,077. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -3.26 and a beta of 3.39. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.12 and a quick ratio of 0.88. The firm’s fifty day moving average is $17.58 and its two-hundred day moving average is $16.64. Adient has a 12-month low of $5.90 and a 12-month high of $29.27.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lyrical Asset Management LP increased its position in Adient by 61,877.0% in the second quarter. Lyrical Asset Management LP now owns 5,206,069 shares of the company’s stock worth $85,484,000 after buying an additional 5,197,669 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Adient by 517.1% during the second quarter. Goldman Sachs Group Inc. now owns 2,866,616 shares of the company’s stock valued at $47,070,000 after purchasing an additional 2,402,086 shares during the period. Impala Asset Management LLC acquired a new position in shares of Adient during the second quarter valued at $14,503,000. Nuveen Asset Management LLC increased its holdings in shares of Adient by 89.3% during the first quarter. Nuveen Asset Management LLC now owns 1,111,177 shares of the company’s stock valued at $10,079,000 after purchasing an additional 524,084 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Adient by 51.0% during the first quarter. Wellington Management Group LLP now owns 1,229,752 shares of the company’s stock valued at $11,154,000 after purchasing an additional 415,259 shares during the period. Hedge funds and other institutional investors own 90.40% 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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Earnings History and Estimates for Adient (NYSE:ADNT)

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