Brokers Offer Predictions for Textron Inc.’s Q4 2017 Earnings (TXT)
Textron Inc. (NYSE:TXT) – Analysts at Jefferies Group decreased their Q4 2017 EPS estimates for shares of Textron in a report issued on Tuesday. Jefferies Group analyst S. Kahyaoglu now anticipates that the aerospace company will post earnings of $0.81 per share for the quarter, down from their previous forecast of $0.82. Jefferies Group currently has a “Buy” rating and a $60.00 price target on the stock.
Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, April 19th. The aerospace company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Textron had a net margin of 6.67% and a return on equity of 12.53%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year.
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Other equities research analysts also recently issued research reports about the company. Credit Suisse Group reissued a “buy” rating and issued a $50.00 target price on shares of Textron in a report on Tuesday, April 11th. Stephens began coverage on Textron in a research note on Thursday, April 13th. They set an “equal weight” rating and a $54.00 price target for the company. Cowen and Company reaffirmed an “outperform” rating and set a $60.00 price target on shares of Textron in a research note on Saturday, April 22nd. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $52.75.
Shares of Textron (TXT) traded up 0.33% on Wednesday, hitting $48.89. 269,010 shares of the stock were exchanged. The company’s 50 day moving average is $47.16 and its 200-day moving average is $47.73. The stock has a market cap of $13.09 billion, a PE ratio of 14.58 and a beta of 1.56. Textron has a 52-week low of $36.33 and a 52-week high of $50.93.
Several large investors have recently modified their holdings of TXT. Global X Management Co. LLC increased its position in shares of Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after buying an additional 607 shares during the last quarter. Financial Architects Inc bought a new position in shares of Textron during the first quarter worth approximately $126,000. Koch Industries Inc. bought a new position in shares of Textron during the first quarter worth approximately $203,000. Two Sigma Securities LLC bought a new position in shares of Textron during the first quarter worth approximately $210,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Textron during the first quarter worth approximately $220,000. Institutional investors and hedge funds own 82.68% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were issued a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. Textron’s dividend payout ratio (DPR) is 2.39%.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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