Adient PLC (ADNT) Expected to Announce Quarterly Sales of $4.14 Billion

Share on StockTwits

Equities analysts forecast that Adient PLC (NYSE:ADNT) will announce $4.14 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Adient’s earnings. The highest sales estimate is $4.19 billion and the lowest is $4.10 billion. Adient posted sales of $4.49 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Adient will report full-year sales of $16.60 billion for the current fiscal year, with estimates ranging from $16.51 billion to $16.69 billion. For the next financial year, analysts anticipate that the company will post sales of $16.69 billion, with estimates ranging from $16.17 billion to $17.00 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Adient.

Adient (NYSE:ADNT) last posted its earnings results on Tuesday, May 7th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). Adient had a negative net margin of 8.62% and a positive return on equity of 10.34%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the business earned $1.85 earnings per share. Adient’s quarterly revenue was down 8.0% on a year-over-year basis.

Several equities analysts have weighed in on ADNT shares. Goldman Sachs Group restated a “hold” rating on shares of Adient in a report on Wednesday, January 16th. Royal Bank of Canada downgraded shares of Adient from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $17.00 to $16.00 in a research note on Wednesday, January 23rd. They noted that the move was a valuation call. Bank of America set a $22.00 target price on shares of Adient and gave the company a “hold” rating in a research note on Tuesday, January 22nd. Longbow Research reiterated a “buy” rating and issued a $28.00 target price on shares of Adient in a research note on Monday, January 28th. Finally, Morgan Stanley set a $16.00 target price on shares of Adient and gave the company a “sell” rating in a research note on Tuesday, January 29th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $27.10.

NYSE ADNT traded down $0.87 during trading on Friday, hitting $19.81. 77,353 shares of the company traded hands, compared to its average volume of 2,330,590. Adient has a 12 month low of $12.15 and a 12 month high of $58.17. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.77. The firm has a market cap of $1.92 billion, a P/E ratio of 3.52 and a beta of 2.76.

A number of institutional investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC bought a new position in shares of Adient during the fourth quarter worth approximately $91,000. Bank of Montreal Can increased its holdings in shares of Adient by 34.3% during the fourth quarter. Bank of Montreal Can now owns 7,639 shares of the company’s stock worth $114,000 after purchasing an additional 1,952 shares during the period. Pennsylvania Trust Co bought a new position in shares of Adient during the first quarter worth approximately $1,739,000. Oppenheimer Asset Management Inc. boosted its position in shares of Adient by 13.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 9,130 shares of the company’s stock worth $118,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Tyers Asset Management LLC boosted its position in shares of Adient by 26.5% during the 1st quarter. Tyers Asset Management LLC now owns 9,472 shares of the company’s stock worth $123,000 after acquiring an additional 1,984 shares in the last quarter.

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.

Further Reading: Quick Ratio

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

Earnings History and Estimates for Adient (NYSE:ADNT)

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.