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Johnson Controls International plc (JCI), headquartered in Ireland, specializes in engineering, manufacturing, and retrofitting building products and systems. Valued at a market cap of $50.4 billion, the company’s operations extend across the U.S., Europe, Asia-Pacific, and other international regions.
Johnson Controls shares have outperformed the broader market over the past year. Over the past 52 weeks, JCI stock rose 44.2% compared to the S&P 500 Index’s ($SPX) 31.1% returns. In 2024, JCI has gained 28.8%, outpacing SPX’s 19.8% gain on a YTD basis.
Zooming in further, JCI has also underperformed the S&P Homebuilders SPDR’s (XHB) 49.6% returns over the past 52 weeks but outperformed the XHB’s 21.1% gains on a YTD basis.
Johnson Controls shares climbed 3.6% following its Q3 earnings release on July 31. While the company missed Wall Street’s revenue expectations, it exceeded analysts' earnings forecasts.
For the current fiscal year, which ended in September, analysts expect Johnson Controls to report an EPS of $3.68, up 5.1% year over year. The company’s earnings surprise history is solid. It beat the consensus estimate in three of the past four quarters while missing the forecasts on one other occasion.
Among the 19 analysts covering the JCI stock, the consensus rating is a “Moderate Buy.” That’s based on ten “Strong Buy” ratings and nine “Holds.”
This configuration is more bullish than two months ago when eight analysts suggested a “Strong Buy” for the stock.
On Oct. 17, Mizuho Financial Group, Inc. (MFG) analyst Brett Linzey reaffirmed a “Neutral” rating on Johnson Controls and raised the price target from $62 to $75.
JCI’s mean price target of $80.89 represents a premium of 9% to current price levels. The Street-high target of $95 indicates a potential upside of 28% from current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
