Q4 2017 EPS Estimates for Textron Inc. (TXT) Reduced by Analyst
Textron Inc. (NYSE:TXT) – Analysts at Jefferies Group lowered their Q4 2017 earnings estimates for Textron in a report released on Thursday. Jefferies Group analyst S. Kahyaoglu now expects that the aerospace company will earn $0.72 per share for the quarter, down from their prior forecast of $0.81. Jefferies Group currently has a “Buy” rating and a $65.00 target price on the stock. Jefferies Group also issued estimates for Textron’s FY2018 earnings at $2.80 EPS, FY2019 earnings at $3.10 EPS and FY2020 earnings at $3.30 EPS.
Several other brokerages have also issued reports on TXT. ValuEngine lowered Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Textron from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Cowen and Company reiterated a “buy” rating and issued a $60.00 price objective on shares of Textron in a research report on Thursday. Stephens reaffirmed an “equal weight” rating and set a $63.00 price target (up previously from $54.00) on shares of Textron in a research report on Friday, October 13th. Finally, Citigroup Inc. upped their price target on Textron from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $56.08.
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Shares of Textron (TXT) opened at 53.74 on Monday. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 16.43 and a beta of 1.59. The stock has a 50 day moving average of $52.82 and a 200-day moving average of $48.99. Textron has a 52-week low of $38.67 and a 52-week high of $55.80.
Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of TXT. MRJ Capital Inc. acquired a new position in Textron in the 2nd quarter valued at $3,589,000. Airain ltd acquired a new position in Textron in the 2nd quarter valued at $2,608,000. Bank of Nova Scotia grew its holdings in Textron by 939.6% in the 1st quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock valued at $2,937,000 after buying an additional 55,782 shares in the last quarter. Highbridge Capital Management LLC grew its holdings in Textron by 153.1% in the 1st quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock valued at $253,000 after buying an additional 15,308 shares in the last quarter. Finally, NBT Bank N A NY grew its holdings in Textron by 0.8% in the 2nd quarter. NBT Bank N A NY now owns 19,598 shares of the aerospace company’s stock valued at $923,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Thursday, September 14th. Textron’s dividend payout ratio (DPR) is presently 3.45%.
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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