Brokers Offer Predictions for Textron Inc.’s FY2020 Earnings (TXT)
Textron Inc. (NYSE:TXT) – Stock analysts at Jefferies Group reduced their FY2020 earnings per share (EPS) estimates for Textron in a research report issued on Wednesday. Jefferies Group analyst S. Kahyaoglu now forecasts that the aerospace company will earn $3.45 per share for the year, down from their previous forecast of $3.55. Jefferies Group has a “Buy” rating and a $60.00 price objective on the stock.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Tuesday, July 18th. Credit Suisse Group restated a “buy” rating and set a $50.00 price target on shares of Textron in a research report on Wednesday, May 24th. Stephens initiated coverage on shares of Textron in a research report on Thursday, April 13th. They set an “equal weight” rating and a $54.00 price target for the company. BidaskClub upgraded shares of Textron from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $54.00 price target (up from $52.00) on shares of Textron in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Textron currently has an average rating of “Hold” and a consensus price target of $53.60.
TRADEMARK VIOLATION NOTICE: “Brokers Offer Predictions for Textron Inc.’s FY2020 Earnings (TXT)” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/24/brokers-offer-predictions-for-textron-inc-s-fy2020-earnings-txt.html.
Shares of Textron (TXT) traded down 0.08% during midday trading on Monday, reaching $48.45. The company had a trading volume of 317,713 shares. The firm has a market capitalization of $13.05 billion, a P/E ratio of 14.81 and a beta of 1.56. Textron has a one year low of $37.19 and a one year high of $50.93. The company has a 50 day moving average price of $47.58 and a 200-day moving average price of $47.73.
Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Textron by 3,689.9% in the first quarter. BlackRock Inc. now owns 17,144,765 shares of the aerospace company’s stock worth $815,921,000 after buying an additional 16,692,390 shares in the last quarter. Vanguard Group Inc. increased its stake in Textron by 3.4% in the first quarter. Vanguard Group Inc. now owns 24,537,994 shares of the aerospace company’s stock worth $1,167,763,000 after buying an additional 812,940 shares in the last quarter. Victory Capital Management Inc. increased its stake in Textron by 33.8% in the first quarter. Victory Capital Management Inc. now owns 2,927,970 shares of the aerospace company’s stock worth $139,342,000 after buying an additional 739,374 shares in the last quarter. Gotham Asset Management LLC increased its stake in Textron by 2,690.3% in the first quarter. Gotham Asset Management LLC now owns 561,971 shares of the aerospace company’s stock worth $26,744,000 after buying an additional 541,831 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Textron by 17.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,099 shares of the aerospace company’s stock worth $166,712,000 after buying an additional 524,664 shares in the last quarter. 82.66% of the stock is owned by institutional investors.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Wednesday, June 7th. Textron’s dividend payout ratio is currently 2.45%.
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.
Receive News & Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related companies with MarketBeat.com's FREE daily email newsletter.