Zacks: Brokerages Expect Adient plc (NYSE:ADNT) Will Post Quarterly Sales of $3.65 Billion


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Brokerages expect Adient plc (NYSE:ADNT) to report sales of $3.65 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Adient’s earnings, with estimates ranging from $3.59 billion to $3.72 billion. Adient posted sales of $3.51 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, May 4th.

According to Zacks, analysts expect that Adient will report full year sales of $14.81 billion for the current year, with estimates ranging from $14.73 billion to $14.90 billion. For the next year, analysts expect that the business will report sales of $15.67 billion, with estimates ranging from $15.13 billion to $16.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Adient.

Adient (NYSE:ADNT) last released its quarterly earnings results on Thursday, February 4th. The company reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.83. Adient had a negative net margin of 4.32% and a negative return on equity of 0.23%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the firm earned $0.96 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis.

A number of analysts have recently issued reports on ADNT shares. Royal Bank of Canada increased their price objective on shares of Adient from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 22nd. Credit Suisse Group increased their price objective on shares of Adient from $44.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 10th. Barclays increased their price objective on shares of Adient from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, March 22nd. Wells Fargo & Company started coverage on shares of Adient in a research note on Wednesday, March 31st. They issued an “overweight” rating and a $59.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Adient from $36.00 to $38.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $44.67.

A number of institutional investors and hedge funds have recently bought and sold shares of ADNT. Steward Partners Investment Advisory LLC grew its stake in Adient by 933.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 837 shares of the company’s stock valued at $29,000 after acquiring an additional 756 shares in the last quarter. Lazard Asset Management LLC bought a new position in Adient during the fourth quarter valued at $32,000. Royal London Asset Management Ltd. bought a new position in Adient during the fourth quarter valued at $55,000. Advisory Services Network LLC lifted its position in Adient by 20.2% during the fourth quarter. Advisory Services Network LLC now owns 1,863 shares of the company’s stock valued at $65,000 after purchasing an additional 313 shares during the last quarter. Finally, Aequim Alternative Investments LP lifted its position in Adient by 5,960.6% during the fourth quarter. Aequim Alternative Investments LP now owns 1,000,000 shares of the company’s stock valued at $78,000 after purchasing an additional 983,500 shares during the last quarter. 84.90% of the stock is owned by institutional investors.

Shares of NYSE ADNT traded down $1.04 during midday trading on Monday, reaching $41.01. The stock had a trading volume of 4,368 shares, compared to its average volume of 994,005. The stock has a 50-day moving average of $40.45 and a 200-day moving average of $32.33. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.99 and a current ratio of 1.17. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -7.23, a price-to-earnings-growth ratio of 0.36 and a beta of 3.30. Adient has a 12-month low of $9.28 and a 12-month high of $48.65.

Adient Company Profile

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's products include frames, mechanisms, foams, head restraints, armrests, and trim covers. It serves automotive original equipment manufacturers in the Americas, Europe, China, and internationally.

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Earnings History and Estimates for Adient (NYSE:ADNT)

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