Textron Inc. (TXT) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Textron Inc. (NYSE:TXT) issued its quarterly earnings results on Thursday. The aerospace company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03, Bloomberg Earnings reports. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. Textron updated its FY17 guidance to $2.40-2.50 EPS.
Textron (NYSE TXT) opened at 53.74 on Friday. The stock’s 50 day moving average price is $52.82 and its 200-day moving average price is $48.99. Textron has a one year low of $38.79 and a one year high of $55.80. The company has a market capitalization of $14.23 billion, a P/E ratio of 16.43 and a beta of 1.59.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 15th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Thursday, September 14th. Textron’s payout ratio is currently 3.45%.
A number of equities research analysts have recently commented on the company. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Drexel Hamilton raised Textron from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, September 11th. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 target price on shares of Textron in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.69.
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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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