Is Johnson Controls Stock a Buy?
The market warmed to the recent fiscal 2022 fourth-quarter (ended Sept. 30) results from building technology and heating, ventilation, and air conditioning (HVAC) company Johnson Controls International (NYSE: JCI), sending the stock higher by almost 12% in the two trading days after the report's Nov. 3 release.
Is it now time to book some gains on the stock, or is there still room to run?
The answer to this question is based somewhat on how you interpret the company's full-year fiscal 2023 guidance. Wall Street sees Johnson Controls as growing at an annual rate in the mid-teens over the next couple of years, with the analyst consensus for 2023 earnings per share (EPS) at $3.52. That figure implies a 17% increase over the $3 of adjusted EPS the company just reported for its full-year 2022.
Source Fool.com
