Textron (NYSE:TXT) Releases Earnings Results, Misses Estimates By $0.08 EPS

Textron (NYSE:TXT) released its quarterly earnings results on Thursday. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08), Briefing.com reports. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $1.05 earnings per share. Textron updated its FY 2024 guidance to 6.200-6.400 EPS.

Textron Trading Up 2.4 %

Shares of NYSE:TXT traded up $2.07 during trading hours on Friday, hitting $86.97. 1,515,966 shares of the company’s stock traded hands, compared to its average volume of 1,205,920. Textron has a 1 year low of $61.27 and a 1 year high of $97.33. The business has a fifty day moving average price of $92.09 and a 200-day moving average price of $83.81. The firm has a market capitalization of $16.73 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup raised their price target on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Susquehanna decreased their price target on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday. UBS Group raised their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group raised their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.63.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.