Adient PLC (NYSE:ADNT) Expected to Post Quarterly Sales of $4.05 Billion

Analysts expect that Adient PLC (NYSE:ADNT) will report sales of $4.05 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Adient’s earnings. The highest sales estimate is $4.11 billion and the lowest is $4.00 billion. Adient posted sales of $4.15 billion during the same quarter last year, which indicates a negative year over year growth rate of 2.4%. The company is scheduled to announce its next earnings results on Friday, November 8th.

On average, analysts expect that Adient will report full year sales of $16.62 billion for the current year, with estimates ranging from $16.58 billion to $16.67 billion. For the next year, analysts expect that the firm will post sales of $16.42 billion, with estimates ranging from $15.66 billion to $17.00 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Adient.

Adient (NYSE:ADNT) last released its earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.07. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Adient had a positive return on equity of 8.35% and a negative net margin of 11.00%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.45 earnings per share.

A number of brokerages recently issued reports on ADNT. 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 for the company. Longbow Research downgraded Adient from a “buy” rating to a “neutral” rating in a report on Thursday, May 9th. Morgan Stanley set a $12.00 price objective on Adient and gave the stock a “sell” rating in a report on Wednesday, June 26th. Buckingham Research set a $19.00 price objective on Adient and gave the stock a “sell” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada raised their price objective on Adient to $20.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.47.

Shares of NYSE:ADNT traded up $1.23 during trading on Friday, hitting $22.70. The company had a trading volume of 1,534,856 shares, compared to its average volume of 2,198,562. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 4.04 and a beta of 3.19. Adient has a one year low of $12.15 and a one year high of $47.06. The company has a fifty day simple moving average of $22.90 and a two-hundred day simple moving average of $20.10. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.07 and a quick ratio of 0.88.

Several hedge funds have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. grew its position in shares of Adient by 23.9% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 14,872 shares of the company’s stock valued at $361,000 after purchasing an additional 2,869 shares in the last quarter. United Services Automobile Association increased its stake in shares of Adient by 94.8% during the 2nd quarter. United Services Automobile Association now owns 26,029 shares of the company’s stock worth $632,000 after purchasing an additional 12,668 shares in the last quarter. Mutual Advisors LLC increased its stake in shares of Adient by 14.3% during the 2nd quarter. Mutual Advisors LLC now owns 63,796 shares of the company’s stock worth $1,548,000 after purchasing an additional 7,982 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Adient during the 2nd quarter worth approximately $8,598,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Adient by 0.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 210,457 shares of the company’s stock worth $5,108,000 after purchasing an additional 1,611 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

About Adient

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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