Wall Street analysts predict that Textron Inc. (NYSE:TXT) will announce earnings per share of $0.63 for the current quarter, Zacks reports. Four analysts have provided estimates for Textron’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.58. Textron posted earnings of $1.10 per share during the same quarter last year, which would indicate a negative year over year growth rate of 42.7%. The company is expected to announce its next earnings results on Thursday, October 19th.

On average, analysts expect that Textron will report full year earnings of $2.52 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.57. For the next financial year, analysts forecast that the firm will report earnings of $2.94 per share, with EPS estimates ranging from $2.80 to $3.15. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover 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 consensus estimate of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the business earned $0.66 earnings per share. Textron’s revenue for the quarter was up 2.6% compared to the same quarter last year.

Several brokerages have recently issued reports on TXT. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $54.00 price target (up previously from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley upped their price target on Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, August 17th. Finally, Drexel Hamilton raised Textron from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Monday, September 11th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $53.42.

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. grew its holdings in shares of Textron by 66.7% during the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock worth $123,000 after buying an additional 1,043 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Textron by 30.2% during the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after buying an additional 607 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Textron by 0.8% during the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock worth $152,000 after buying an additional 26 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Textron during the first quarter worth about $203,000. Finally, Two Sigma Securities LLC bought a new position in shares of Textron during the first quarter worth about $210,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “$0.63 EPS Expected for Textron Inc. (TXT) This Quarter” was first posted by Daily Political and is owned by of Daily Political. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.dailypolitical.com/2017/09/19/0-63-eps-expected-for-textron-inc-txt-this-quarter.html.

Shares of Textron (NYSE TXT) traded up 0.72% during midday trading on Friday, reaching $52.84. 772,528 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $49.26 and its 200 day moving average price is $47.89. The firm has a market capitalization of $13.99 billion, a P/E ratio of 16.15 and a beta of 1.56. Textron has a 52-week low of $37.19 and a 52-week high of $52.89.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Textron’s payout ratio is presently 2.45%.

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.

Get a free copy of the Zacks research report on Textron (TXT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Textron (NYSE:TXT)

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.