Zacks: Brokerages Expect Textron Inc. (TXT) Will Announce Earnings of $0.63 Per Share
Equities analysts expect Textron Inc. (NYSE:TXT) to announce earnings of $0.63 per share for the current quarter, according to Zacks. Four analysts have made estimates for Textron’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.58. Textron posted earnings of $1.10 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 42.7%. The business is scheduled to report its next quarterly earnings report on Thursday, October 19th.
On average, analysts expect that Textron will report full year earnings of $2.52 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.57. For the next fiscal year, analysts expect that the firm will post earnings of $2.94 per share, with EPS estimates ranging from $2.80 to $3.15. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Textron.
Textron (NYSE:TXT) last released its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the business posted $0.66 EPS. Textron’s quarterly revenue was up 2.6% compared to the same quarter last year.
Several equities analysts recently issued reports on the company. ValuEngine upgraded Textron from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Drexel Hamilton upgraded Textron from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Monday, September 11th. Bank of America Corporation lowered Textron from a “buy” rating to an “underperform” rating and lowered their price target for the company from $53.00 to $45.00 in a research note on Friday, July 21st. Finally, Credit Suisse Group restated a “buy” rating and set a $50.00 price target on shares of Textron in a research note on Wednesday, May 24th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.42.
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Hedge funds have recently added to or reduced their stakes in the company. Cleararc Capital Inc. boosted its holdings in shares of Textron by 0.3% in the 1st quarter. Cleararc Capital Inc. now owns 6,098 shares of the aerospace company’s stock worth $290,000 after acquiring an additional 16 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Textron by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 26 shares in the last quarter. Intrust Bank NA boosted its holdings in shares of Textron by 0.6% in the 2nd quarter. Intrust Bank NA now owns 5,892 shares of the aerospace company’s stock worth $277,000 after acquiring an additional 33 shares in the last quarter. Veritable L.P. boosted its holdings in shares of Textron by 0.3% in the 2nd quarter. Veritable L.P. now owns 12,868 shares of the aerospace company’s stock worth $606,000 after acquiring an additional 44 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its holdings in shares of Textron by 1.6% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock worth $227,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 81.50% of the company’s stock.
Textron (NYSE TXT) traded down 0.29% on Friday, reaching $51.61. The company’s stock had a trading volume of 2,331,737 shares. The firm has a market capitalization of $13.66 billion, a PE ratio of 15.78 and a beta of 1.56. The stock’s 50 day moving average is $49.17 and its 200-day moving average is $47.87. Textron has a 52 week low of $37.19 and a 52 week high of $52.89.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. Textron’s dividend payout ratio is currently 2.45%.
Textron Company Profile
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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