Adient (ADNT) Trading Down 7.6% After Earnings Miss

Adient PLC (NYSE:ADNT) fell 7.6% during trading on Monday following a weaker than expected earnings announcement. The company traded as low as $66.23 and last traded at $66.77. 4,568,853 shares were traded during mid-day trading, an increase of 151% from the average session volume of 1,822,498 shares. The stock had previously closed at $72.30.

The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.79). The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Adient had a return on equity of 22.48% and a net margin of 5.47%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $2.12 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, January 18th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, January 17th. Adient’s dividend payout ratio (DPR) is 11.76%.

A number of research firms recently weighed in on ADNT. Zacks Investment Research cut Adient from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Morgan Stanley upped their price target on Adient from $85.00 to $99.00 and gave the stock an “overweight” rating in a report on Tuesday, December 5th. Barclays upped their price target on Adient to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. UBS Group lowered their price target on Adient from $98.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Finally, Royal Bank of Canada restated a “buy” rating and issued a $96.00 price target on shares of Adient in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $81.30.

In other Adient news, VP Cathleen A. Ebacher sold 9,184 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $78.40, for a total transaction of $720,025.60. Following the sale, the vice president now owns 38,187 shares in the company, valued at approximately $2,993,860.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman R Bruce Mcdonald sold 67,757 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $78.49, for a total value of $5,318,246.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,525 shares of company stock worth $6,242,744. Insiders own 0.14% of the company’s stock.

The company has a market capitalization of $6,220.00 and a price-to-earnings ratio of 7.14. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.75.

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Adient Company Profile

Adient plc, formerly Adient Limited, is an automotive seating supplier. The Company designs, manufactures and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks, including vans, pick-up trucks, and sport/crossover utility vehicles. The Company operates through two segments: Seating and Interiors.

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