Textron Inc. (TXT) Releases FY14 Earnings Guidance
Textron Inc. (NYSE:TXT) updated its FY14 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.00-2.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.20, American Banking News.com reports. The company issued revenue guidance of ~$13.2 billion, compared to the consensus revenue estimate of $13.23 billion.
Textron Inc. (NYSE:TXT) traded up 6.66% during mid-day trading on Wednesday, hitting $38.505. The stock had a trading volume of 3,169,142 shares. Textron Inc. has a one year low of $24.87 and a one year high of $37.43. The stock’s 50-day moving average is $34.52 and its 200-day moving average is $30.00. The company has a market cap of $10.826 billion and a price-to-earnings ratio of 21.58.
Textron (NYSE:TXT) last released its earnings data on Wednesday, January 22nd. The company reported $0.60 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.05. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Textron Inc. will post $1.74 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Merrill Lynch downgraded shares of Textron to a neutral rating in a research note to investors on Tuesday, January 7th. On a related note, analysts at Bank of America Corp. downgraded shares of Textron from a buy rating to a neutral rating in a research note to investors on Tuesday, January 7th. They now have a $40.00 price target on the stock, up previously from $29.00. Finally, analysts at Cowen and Company raised their price target on shares of Textron from $40.00 to $45.00 in a research note to investors on Thursday, January 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $37.55.
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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