Deutsche Bank Downgrades Johnson Controls (JCI) to Hold, Citing Macro Headwinds
Tweet Send to a FriendGet Alerts JCI Hot Sheet
Price: $37.49 -0.37%
Rating Summary:
9 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
9 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade JCI Now!
Deutsche Bank downgraded Johnson Controls (NYSE: JCI) from Buy to Hold.
Deutsche analyst said, "While a lower than expected tax rate was a $0.02 benefit, the company also disclosed that they absorbed an unusual $40 MM ($0.05 EPS) impact from a temporary shortage of lead cores for their Power Solutions division. If we add this back, earnings would have been in-line with consensus. Nonetheless, several underlying trends have led us to re-assess our view on JCI's outlook. Despite what we believe to be a very compelling valuation, we are lowering our recommendation based on lowered confidence in JCI's earnings outlook...We lower our F4Q12 (Sept) by $0.14, to $0.78 from $0.92...We are also adjusting our F2013 est. to $2.90 from $3.15."
For an analyst ratings summary and ratings history on Johnson Controls click here. For more ratings news on Johnson Controls click here.
Shares of Johnson Controls closed at $26.07 yesterday, with a 52 week range of $24.29-$41.19.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Deutsche analyst said, "While a lower than expected tax rate was a $0.02 benefit, the company also disclosed that they absorbed an unusual $40 MM ($0.05 EPS) impact from a temporary shortage of lead cores for their Power Solutions division. If we add this back, earnings would have been in-line with consensus. Nonetheless, several underlying trends have led us to re-assess our view on JCI's outlook. Despite what we believe to be a very compelling valuation, we are lowering our recommendation based on lowered confidence in JCI's earnings outlook...We lower our F4Q12 (Sept) by $0.14, to $0.78 from $0.92...We are also adjusting our F2013 est. to $2.90 from $3.15."
For an analyst ratings summary and ratings history on Johnson Controls click here. For more ratings news on Johnson Controls click here.
Shares of Johnson Controls closed at $26.07 yesterday, with a 52 week range of $24.29-$41.19.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Goldman Sachs Starts Quintiles (Q) at Neutral
- UPDATE: Citi Raises PT on Micron Technology (MU) to $19
Create E-mail Alert Related Categories
Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
Deutsche Bank, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
