$0.62 Earnings Per Share Expected for Textron Inc. (TXT) This Quarter
Analysts forecast that Textron Inc. (NYSE:TXT) will announce earnings per share (EPS) of $0.62 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Textron’s earnings, with estimates ranging from $0.58 to $0.66. Textron reported earnings of $0.61 per share in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The business is expected to issue its next quarterly earnings report on Thursday, October 19th.
According to Zacks, analysts expect that Textron will report full year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.55. For the next financial year, analysts anticipate that the firm will post earnings of $2.93 per share, with EPS estimates ranging from $2.80 to $3.15. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Textron.
Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. Textron’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share.
A number of brokerages recently commented on TXT. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $54.00 target price (up from $52.00) on shares of Textron in a report on Saturday, July 22nd. Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Textron in a report on Saturday, April 22nd. Finally, Stephens began coverage on Textron in a report on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 target price on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $53.60.
Large investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Textron by 5.2% in the fourth quarter. Macquarie Group Ltd. now owns 10,200 shares of the aerospace company’s stock worth $496,000 after buying an additional 500 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Textron by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 232,830 shares of the aerospace company’s stock worth $11,081,000 after buying an additional 7,043 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Textron by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 81,184 shares of the aerospace company’s stock worth $3,863,000 after buying an additional 800 shares during the last quarter. Bank of Montreal Can raised its position in shares of Textron by 0.5% in the first quarter. Bank of Montreal Can now owns 132,775 shares of the aerospace company’s stock worth $6,317,000 after buying an additional 644 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its position in shares of Textron by 3.4% in the first quarter. Regentatlantic Capital LLC now owns 85,425 shares of the aerospace company’s stock worth $4,065,000 after buying an additional 2,805 shares during the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.
Shares of Textron (NYSE TXT) traded down 1.81% during mid-day trading on Thursday, reaching $48.24. The company had a trading volume of 1,172,572 shares. The company has a 50 day moving average price of $48.28 and a 200 day moving average price of $47.69. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 14.75 and a beta of 1.56. Textron has a one year low of $37.19 and a one year high of $50.93.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. Textron’s payout ratio is presently 2.45%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related companies with MarketBeat.com's FREE daily email newsletter.