Stock Update (NYSE:JCI): Johnson Controls and Tyco announce future executive leadership team upon close of planned merger

[PR Newswire] – As previously announced, at the effective time of the merger, Johnson Controls chairman and chief executive officer Alex Molinaroli will be appointed to the same role for the combined company. Tyco chief executive officer George Oliver will serve as president and chief operating officer, with responsibility for the operating businesses and leading the integration, and will become a director on the new company’s board. Mr. Molinaroli will serve as chairman and chief executive officer for 18 months after the closing. At that time, Mr. Oliver will become chief executive officer and Mr. Molinaroli will become executive chair for one year, after which Mr. Oliver will become chairman and chief executive officer. Read more on this. Johnson Controls Inc. (JCI) , with a current value of $28.65B, started trading this morning at $44.17. Today, shares have traded between $44.00 and $44.31 per share with its 52-week range being $33.62 to $54.52. JCI shares are currently priced at 11.27x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.53x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.16 per share annually in dividends, yielding 2.64%. According to a consensus of 16 analysts, the earnings estimate of $1.03 per share would be $0.12 better than the year-ago quarter and a $0.04 sequential increase. Investors should also note that the full-year EPS estimate of $3.91 is a $0.49 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $9.62 Billion. If realized, that would be a 0.10% increase over the year-ago quarter. In terms of ratings, Credit Suisse upgraded JCI from Neutral to Outperform (May 24, 2016). Previously, Oppenheimer Initiated JCI at to Outperform. The average price target for JCI shares is $48.43, which is 9.64% above where the stock opened this morning. See more in (NYSE:JCI) Similar Articles: Market Update (NYSE:JCI): Adient Files SEC Form 10 for Planned Spin-off from Johnson Controls Stock Update (NYSE:JCI): Hillary Clinton calls Johnson Controls-Tyco inversion ‘outrageous’ Market Update: Johnson Controls Inc (NYSE:JCI) – Johnson Controls Announces New Automotive Company to be Named Adient