{"id":4570,"date":"2023-10-23T10:42:51","date_gmt":"2023-10-23T10:42:51","guid":{"rendered":"https:\/\/infundpros.com\/markets\/down-21-ytd-will-johnson-controls-stock-continue-to-underperform\/"},"modified":"2023-10-23T10:42:52","modified_gmt":"2023-10-23T10:42:52","slug":"down-21-ytd-will-johnson-controls-stock-continue-to-underperform","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=4570","title":{"rendered":"Down 21% YTD Will Johnson Controls Stock Continue To Underperform?"},"content":{"rendered":"
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Johnson Controls (NYSE: JCI)<\/strong> will report its Q4 fiscal 2023 (fiscal year ends in September) results on Tuesday, October 24. We expect the company\u2019s revenues to come in at $7.1 billion, aligning with the consensus estimate. This would mark year-over-year growth of about 6%. Earnings will likely come in at about $1.10 on a per-share and adjusted basis, also falling in line with the consensus estimate. See our interactive dashboard analysis on <\/strong>Johnson Controls Earnings Preview<\/strong> for more details on how the company\u2019s revenues and earnings will likely trend for the quarter.<\/p>\n

JCI stock has witnessed gains of 10% from levels of $45 in early January 2021 to around $50 now, vs. an increase of about 15% for the S&P 500 over this roughly 3-year period. However, the increase in JCI stock has been far from consistent. Returns for the stock were 75% in 2021, -21% in 2022, and -21% in 2023. In comparison, returns for the S&P 500 have been 27% in 2021, -19% in 2022, and 13% in 2023 – indicating that JCI underperformed the S&P<\/strong> in 2022 and 2023.<\/p>\n

In fact, consistently beating the S&P 500<\/strong> – in good times and bad – has been difficult over recent years for individual stocks; for heavyweights in the industrials sector, including UPS, CAT, and UNP, and even for the mega-cap stars GOOG, TSLA, and MSFT. In contrast, the Trefis High Quality Portfolio, with a collection of 30 stocks, has outperformed the S&P 500 each year<\/strong> over the same period. Why is that?<\/strong> As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index, less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.<\/p>\n

Given the current uncertain macroeconomic environment with high oil prices and elevated interest rates, could JCI face a similar situation as it did in 2022 and 2023 and underperform the S&P<\/strong> over the next 12 months – or will it see a strong jump? Going by our Johnson Controls valuation<\/strong> of $75 per share, there seems to be significant room for growth from its current level of $51. Our forecast is based on a 19x P\/E multiple for JCI and expected earnings of $4.03 per share for the full fiscal year 2024.<\/p>\n

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The company will likely continue to benefit from strong demand trends for its commercial HVAC and fire and safety products. Looking at Q3 2023, Johnson Controls\u2019 revenues<\/strong> were up 8% to $7.1 billion, driven by a 10% rise in Building Solutions and a 5% rise in Global Products segment sales. Global Product sales should continue to trend higher, driven by robust demand for fire detection, industrial refrigeration, and commercial HVAC products, a trend seen in the recent past. The company\u2019s adjusted EBIT margins improved by 160 bps to 13.8%, partly due to productivity initiatives. The company expects its margins to expand in the near term. Higher revenues and margin expansion resulted in a 21% bottom line growth to $1.03 per share on an adjusted basis in Q3, compared to the $0.85 figure in the prior-year quarter.<\/p>\n

While JCI stock looks like it can see higher levels, it is helpful to see how Johnson Controls\u2019 Peers<\/strong> fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons<\/strong>.<\/strong><\/p>\n

Invest with Trefis <\/strong>Market Beating Portfolios<\/strong><\/p>\n

See all Trefis <\/strong>Price Estimates<\/strong><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Johnson Controls (NYSE: JCI) will report its Q4 fiscal 2023 (fiscal year ends in September) results on Tuesday, October 24. We expect…<\/p>\n","protected":false},"author":1,"featured_media":4571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-4570","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"\nDown 21% YTD Will Johnson Controls Stock Continue To Underperform? | inFundPros<\/title>\n<meta name=\"description\" content=\"Johnson Controls (NYSE: JCI) will report its Q4 fiscal 2023 (fiscal year ends in September) results on Tuesday, October 24. 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