Textron Inc. (TXT) Expected to Post Earnings of $0.77 Per Share
Wall Street brokerages expect that Textron Inc. (NYSE:TXT) will report earnings of $0.77 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Textron’s earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.72. Textron reported earnings of $0.80 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The company is expected to report its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that Textron will report full-year earnings of $2.48 per share for the current year, with EPS estimates ranging from $2.43 to $2.55. For the next financial year, analysts anticipate that the company will post earnings of $2.85 per share, with EPS estimates ranging from $2.75 to $3.15. Zacks Investment Research’s 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 Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Textron had a return on equity of 12.02% and a net margin of 4.48%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the business posted $0.61 EPS. Textron’s quarterly revenue was up 7.2% compared to the same quarter last year.
A number of equities research analysts recently weighed in on TXT shares. BidaskClub downgraded Textron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, July 18th. Credit Suisse Group reissued an “outperform” rating and set a $55.00 target price (up from $50.00) on shares of Textron in a research report on Thursday, July 20th. Bank of America Corporation downgraded Textron from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $53.00 to $45.00 in a research report on Friday, July 21st. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $54.00 target price (up from $52.00) on shares of Textron in a research report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.08.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its holdings in shares of Textron by 66.7% in the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock worth $123,000 after acquiring an additional 1,043 shares in the last quarter. Global X Management Co. LLC boosted its holdings in shares of Textron by 30.2% in the 1st quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after acquiring an additional 607 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. Two Sigma Securities LLC acquired a new position in shares of Textron in the 1st quarter worth approximately $210,000. 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. 81.50% of the stock is currently owned by institutional investors.
Textron (TXT) opened at 53.70 on Tuesday. Textron has a 12-month low of $38.67 and a 12-month high of $55.80. The firm’s 50-day moving average price is $52.94 and its 200-day moving average price is $49.06. The company has a market cap of $14.22 billion, a P/E ratio of 16.42 and a beta of 1.59.
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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