Textron (TXT) Releases Quarterly Earnings, Misses Estimates By $0.05 EPS
Textron (NYSE:TXT) released its earnings data on Wednesday. The company reported $0.60 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.05, AnalystRatings.NET reports. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion.
Textron (NYSE:TXT) opened at 36.10 on Wednesday. Textron has a 1-year low of $24.87 and a 1-year high of $37.43. The stock has a 50-day moving average of $34.52 and a 200-day moving average of $30.00. The company has a market cap of $10.150 billion and a P/E ratio of 21.58.
TXT has been the subject of a number of recent research reports. 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 given a hold rating and five have issued a buy rating to the company’s stock. Textron currently has an average rating of “Hold” and a consensus target price 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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