$0.85 EPS Expected for Textron Inc. (TXT) This Quarter
Wall Street brokerages expect Textron Inc. (NYSE:TXT) to announce $0.85 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Textron’s earnings, with estimates ranging from $0.80 to $0.90. Textron posted earnings per share of $0.87 during the same quarter last year, which indicates a negative year-over-year growth rate of 2.3%. The company is expected to report its next quarterly earnings results on Wednesday, July 17th.
According to Zacks, analysts expect that Textron will report full year earnings of $3.70 per share for the current financial year, with EPS estimates ranging from $3.60 to $3.80. For the next financial year, analysts expect that the business will report earnings of $4.06 per share, with EPS estimates ranging from $3.90 to $4.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Textron.
Textron (NYSE:TXT) last released its earnings results on Wednesday, April 17th. The aerospace company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $31.09 million for the quarter, compared to analyst estimates of $3.17 billion. Textron had a return on equity of 15.66% and a net margin of 8.79%. Textron’s quarterly revenue was down 99.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS.
Shares of TXT traded up $0.13 during trading hours on Friday, hitting $47.56. 1,113,527 shares of the company were exchanged, compared to its average volume of 1,739,070. The firm has a market cap of $11.07 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.06 and a beta of 1.65. Textron has a fifty-two week low of $43.27 and a fifty-two week high of $72.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 2.17.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, June 13th. Textron’s dividend payout ratio (DPR) is currently 2.40%.
In related news, VP Mark S. Bamford sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $54.75, for a total value of $246,375.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Frank T. Connor sold 72,732 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $55.17, for a total value of $4,012,624.44. Following the completion of the sale, the chief financial officer now directly owns 186,456 shares in the company, valued at $10,286,777.52. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Osborn Williams & Donohoe LLC bought a new position in Textron in the first quarter valued at about $25,000. Lake Point Wealth Management bought a new position in Textron in the fourth quarter valued at about $28,000. Oregon Public Employees Retirement Fund raised its position in Textron by 4,444.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,274,199 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 1,246,159 shares during the last quarter. Essex Savings Bank bought a new position in Textron in the fourth quarter valued at about $29,000. Finally, North Star Investment Management Corp. bought a new position in Textron in the first quarter valued at about $36,000. 83.77% of the stock is currently owned by institutional investors and hedge funds.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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