Textron (TXT) Posts Quarterly Results
Textron (NYSE:TXT) posted its quarterly earnings results on Friday. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.12, American Banking & Market News reports. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share.
Shares of Textron (NYSE:TXT) opened at 27.52 on Friday. Textron has a 1-year low of $22.84 and a 1-year high of $31.30. The stock’s 50-day moving average is $27.85 and its 200-day moving average is $27.42. The company has a market cap of $7.719 billion and a P/E ratio of 15.03.
A number of research firms have recently commented on TXT. Analysts at JPMorgan Chase & Co. cut their price target on shares of Textron from $36.00 to $35.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Textron in a research note to investors on Wednesday, July 31st. They now have a $29.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $36.78.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services worldwide.
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