Adient (NYSE:ADNT) Issues Quarterly Earnings Results

Adient (NYSE:ADNT) issued its earnings results on Tuesday. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30), Briefing.com reports. Adient had a return on equity of 8.72% and a net margin of 1.04%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Adient updated its FY 2024 guidance to EPS.

Adient Stock Down 0.9 %

Shares of NYSE:ADNT opened at $21.28 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.91 and a debt-to-equity ratio of 1.00. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.46 and a beta of 2.19. The stock’s 50-day moving average price is $25.18 and its two-hundred day moving average price is $29.53. Adient has a 12-month low of $20.18 and a 12-month high of $44.89.

Analysts Set New Price Targets

ADNT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Adient from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, May 6th. BNP Paribas raised Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price objective for the company in a research note on Monday, July 1st. Morgan Stanley dropped their price target on Adient from $35.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. decreased their price objective on shares of Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company lowered their price target on shares of Adient from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.38.

About Adient

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.