$3.41 Billion in Sales Expected for Adient plc (NYSE:ADNT) This Quarter

Equities research analysts expect Adient plc (NYSE:ADNTGet Rating) to post sales of $3.41 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Adient’s earnings, with the lowest sales estimate coming in at $3.31 billion and the highest estimate coming in at $3.51 billion. Adient posted sales of $3.82 billion during the same quarter last year, which would indicate a negative year over year growth rate of 10.7%. The business is scheduled to report its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Adient will report full year sales of $14.24 billion for the current year, with estimates ranging from $13.96 billion to $14.48 billion. For the next year, analysts expect that the business will post sales of $15.62 billion, with estimates ranging from $14.90 billion to $16.32 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Adient.

Adient (NYSE:ADNTGet Rating) last released its earnings results on Friday, February 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.46). The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.13 billion. Adient had a return on equity of 0.04% and a net margin of 6.79%. Adient’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.71 earnings per share.

A number of brokerages have commented on ADNT. Zacks Investment Research lowered Adient from a “hold” rating to a “strong sell” rating and set a $29.00 price objective for the company. in a research report on Tuesday, April 12th. StockNews.com lowered Adient from a “hold” rating to a “sell” rating in a research report on Friday, April 8th. Morgan Stanley decreased their price objective on Adient from $38.00 to $36.00 and set an “underweight” rating for the company in a research report on Wednesday, April 6th. Bank of America upgraded Adient from an “underperform” rating to a “neutral” rating and set a $47.00 price objective for the company in a research report on Wednesday, April 6th. Finally, Exane BNP Paribas began coverage on Adient in a research report on Monday, April 11th. They set a “neutral” rating for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Adient has a consensus rating of “Hold” and a consensus target price of $43.40.

A number of hedge funds have recently made changes to their positions in ADNT. Capital World Investors boosted its stake in Adient by 440.0% in the third quarter. Capital World Investors now owns 6,098,847 shares of the company’s stock worth $252,797,000 after purchasing an additional 4,969,447 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Adient in the third quarter worth about $63,445,000. William Blair Investment Management LLC bought a new stake in shares of Adient in the fourth quarter worth about $41,490,000. Redwood Capital Management LLC increased its holdings in shares of Adient by 42.8% in the third quarter. Redwood Capital Management LLC now owns 1,835,977 shares of the company’s stock worth $76,101,000 after acquiring an additional 549,854 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Adient during the fourth quarter worth about $24,056,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of ADNT opened at $34.14 on Friday. The business’s 50-day moving average price is $37.05 and its 200 day moving average price is $42.72. The stock has a market capitalization of $3.24 billion, a P/E ratio of 3.62, a P/E/G ratio of 1.33 and a beta of 2.91. Adient has a 1-year low of $30.53 and a 1-year high of $53.17. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 1.30.

About Adient (Get Rating)

Adient plc designs, develops, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's seating solutions include frames, mechanisms, foams, head restraints, armrests, and trim covers. It serves automotive original equipment manufacturers in the Americas, including North America and South America; Europe, Middle East, and Africa; and Asia Pacific.

See Also

Get a free copy of the Zacks research report on Adient (ADNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Adient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adient and related companies with MarketBeat.com's FREE daily email newsletter.