Brokers Set Expectations for Textron Inc.’s Q2 2018 Earnings (TXT)
Textron Inc. (NYSE:TXT) – Investment analysts at Jefferies Group issued their Q2 2018 earnings per share estimates for shares of Textron in a report issued on Sunday. Jefferies Group analyst S. Kahyaoglu forecasts that the aerospace company will post earnings per share of $0.69 for the quarter. Jefferies Group has a “Buy” rating and a $74.00 price objective on the stock. Jefferies Group also issued estimates for Textron’s Q3 2018 earnings at $0.73 EPS, Q4 2018 earnings at $1.04 EPS, FY2018 earnings at $3.00 EPS, FY2019 earnings at $3.45 EPS and FY2020 earnings at $3.60 EPS.
Several other research analysts have also weighed in on the stock. Cowen reissued a “buy” rating and set a $70.00 price objective on shares of Textron in a research note on Thursday, February 1st. Morgan Stanley raised shares of Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 price objective on the stock in a research note on Thursday, February 1st. Wells Fargo & Co reissued an “outperform” rating and set a $67.00 price objective (up previously from $59.00) on shares of Textron in a research note on Tuesday, January 16th. Zacks Investment Research raised shares of Textron from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. Finally, Stephens set a $65.00 price objective on shares of Textron and gave the stock a “hold” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Textron currently has an average rating of “Hold” and a consensus target price of $60.50.
Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 31st. The aerospace company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). Textron had a return on equity of 11.58% and a net margin of 2.16%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in Textron in the third quarter valued at approximately $110,000. Invictus RG acquired a new stake in shares of Textron in the third quarter valued at approximately $115,000. Cerebellum GP LLC acquired a new stake in shares of Textron in the fourth quarter valued at approximately $133,000. Commerzbank Aktiengesellschaft FI acquired a new position in Textron during the third quarter worth $201,000. Finally, BB&T Securities LLC acquired a new position in Textron during the third quarter worth $203,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
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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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