Analysts forecast that Textron Inc. (NYSE:TXT) will announce $0.99 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Textron’s earnings, with estimates ranging from $0.90 to $1.09. Textron reported earnings of $0.74 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 33.8%. The firm is scheduled to announce its next earnings results on Wednesday, January 30th.
On average, analysts expect that Textron will report full year earnings of $3.22 per share for the current year, with EPS estimates ranging from $3.10 to $3.34. For the next fiscal year, analysts anticipate that the company will report earnings of $3.66 per share, with EPS estimates ranging from $3.30 to $3.95. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Textron.
Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 18th. The aerospace company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.15). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.52 billion. Textron had a return on equity of 13.72% and a net margin of 6.11%. Textron’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS.
Several research analysts have commented on the stock. Cowen restated a “$66.44” rating and issued a $73.00 target price on shares of Textron in a research report on Wednesday, July 18th. JPMorgan Chase & Co. upped their target price on shares of Textron from $74.00 to $77.00 and gave the stock a “$66.52” rating in a research report on Monday, July 23rd. Jefferies Financial Group upped their target price on shares of Textron to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Bank of America set a $78.00 target price on shares of Textron and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, Citigroup upped their target price on shares of Textron to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $74.64.
TXT traded up $0.98 on Tuesday, hitting $55.81. 2,426,574 shares of the company’s stock were exchanged, compared to its average volume of 1,755,715. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.66. Textron has a twelve month low of $51.49 and a twelve month high of $72.87. The company has a quick ratio of 1.11, a current ratio of 2.29 and a debt-to-equity ratio of 0.70.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, December 13th. Textron’s dividend payout ratio (DPR) is 3.27%.
A number of hedge funds and other institutional investors have recently bought and sold shares of TXT. Nisa Investment Advisors LLC boosted its holdings in shares of Textron by 2.3% in the third quarter. Nisa Investment Advisors LLC now owns 93,150 shares of the aerospace company’s stock valued at $6,657,000 after acquiring an additional 2,132 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Textron in the second quarter valued at approximately $1,838,000. Global X Management Co LLC boosted its holdings in shares of Textron by 86.7% in the second quarter. Global X Management Co LLC now owns 6,253 shares of the aerospace company’s stock valued at $412,000 after acquiring an additional 2,903 shares in the last quarter. AMP Capital Investors Ltd bought a new position in shares of Textron in the second quarter valued at approximately $4,046,000. Finally, Carillon Tower Advisers Inc. boosted its holdings in shares of Textron by 17.1% in the second quarter. Carillon Tower Advisers Inc. now owns 408,234 shares of the aerospace company’s stock valued at $26,907,000 after acquiring an additional 59,750 shares in the last quarter. Hedge funds and other institutional investors own 84.96% of the company’s stock.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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