Textron Inc. (TXT) Expected to Announce Quarterly Sales of $4.04 Billion

Wall Street analysts forecast that Textron Inc. (NYSE:TXT) will report $4.04 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Textron’s earnings. The highest sales estimate is $4.19 billion and the lowest is $3.87 billion. Textron reported sales of $3.83 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The firm is scheduled to report its next earnings results before the market opens on Wednesday, January 31st.

According to Zacks, analysts expect that Textron will report full year sales of $4.04 billion for the current year, with estimates ranging from $14.05 billion to $14.37 billion. For the next fiscal year, analysts anticipate that the business will report sales of $14.70 billion per share, with estimates ranging from $14.22 billion to $14.97 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Textron.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share.

Several research firms have issued reports on TXT. ValuEngine lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Cowen reaffirmed a “buy” rating and set a $60.00 price target on shares of Textron in a research report on Thursday, October 19th. Stephens reaffirmed an “equal weight” rating and set a $63.00 price target (up from $54.00) on shares of Textron in a research report on Friday, October 13th. Drexel Hamilton raised shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday, September 11th. Finally, Zacks Investment Research lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $57.82.

Textron (NYSE TXT) traded down $0.42 during midday trading on Friday, reaching $56.76. 945,110 shares of the company’s stock traded hands, compared to its average volume of 1,537,062. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.08 and a quick ratio of 0.96. Textron has a 1 year low of $43.66 and a 1 year high of $57.71. The company has a market capitalization of $15,014.96, a price-to-earnings ratio of 24.47, a P/E/G ratio of 2.61 and a beta of 1.57.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. Textron’s dividend payout ratio is currently 3.45%.

Several large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new position in shares of Textron in the third quarter worth about $110,000. Invictus RG bought a new position in shares of Textron in the third quarter worth about $115,000. Bessemer Group Inc. lifted its holdings in shares of Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock worth $123,000 after acquiring an additional 1,043 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of Textron by 16.5% in the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock worth $144,000 after acquiring an additional 433 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Textron in the third quarter worth about $201,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

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Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

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Earnings History and Estimates for Textron (NYSE:TXT)

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