$0.63 EPS Expected for Textron Inc. (TXT) This Quarter
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.
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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.
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