Adient PLC to Post Q1 2020 Earnings of $0.46 Per Share, Seaport Global Securities Forecasts (NYSE:ADNT)

Adient PLC (NYSE:ADNT) – Seaport Global Securities reduced their Q1 2020 earnings per share (EPS) estimates for Adient in a research note issued on Sunday, August 18th. Seaport Global Securities analyst M. Ward now forecasts that the company will post earnings of $0.46 per share for the quarter, down from their prior estimate of $0.61. Seaport Global Securities also issued estimates for Adient’s Q2 2020 earnings at $0.67 EPS, Q3 2020 earnings at $0.71 EPS and Q4 2020 earnings at $0.68 EPS.

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

A number of other equities research analysts have also recently weighed in on ADNT. ValuEngine upgraded Adient from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 6th. Royal Bank of Canada boosted their price objective on Adient to $20.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Longbow Research cut Adient from a “buy” rating to a “neutral” rating in a research note on Thursday, May 9th. UBS Group set a $30.00 price objective on Adient and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Buckingham Research set a $19.00 price target on Adient and gave the stock a “sell” rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.47.

Shares of NYSE ADNT opened at $22.77 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. Adient has a twelve month low of $12.15 and a twelve month high of $47.06. The stock has a 50 day moving average of $22.74 and a two-hundred day moving average of $20.19. The stock has a market cap of $2.17 billion, a P/E ratio of 4.05 and a beta of 3.19.

Several institutional investors have recently added to or reduced their stakes in the company. Glen Harbor Capital Management LLC raised its stake in shares of Adient by 2.2% during the second quarter. Glen Harbor Capital Management LLC now owns 20,570 shares of the company’s stock worth $499,000 after purchasing an additional 442 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Adient by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,186 shares of the company’s stock worth $854,000 after purchasing an additional 497 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Adient by 6.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,675 shares of the company’s stock worth $235,000 after purchasing an additional 545 shares during the last quarter. Greenwich Wealth Management LLC raised its stake in shares of Adient by 1.3% during the second quarter. Greenwich Wealth Management LLC now owns 42,150 shares of the company’s stock worth $1,023,000 after purchasing an additional 550 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in Adient by 0.5% during the first quarter. Retirement Systems of Alabama now owns 113,231 shares of the company’s stock worth $1,467,000 after acquiring an additional 614 shares during the period.

Adient Company Profile

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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