Textron Inc. (TXT) Expected to Announce Quarterly Sales of $4.04 Billion
Equities research analysts expect Textron Inc. (NYSE:TXT) to post sales of $4.04 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Textron’s earnings, with the lowest sales estimate coming in at $3.87 billion and the highest estimate coming in at $4.19 billion. Textron posted sales of $3.83 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.5%. The business is scheduled to issue its next earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that Textron will report full-year sales of $4.04 billion for the current financial year, with estimates ranging from $14.05 billion to $14.37 billion. For the next fiscal year, analysts forecast that the business will post sales of $14.71 billion per share, with estimates ranging from $14.22 billion to $14.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Textron.
Textron (NYSE:TXT) last announced its quarterly 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 during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis.
TXT has been the subject of a number of recent analyst reports. BidaskClub upgraded Textron from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, July 18th. Credit Suisse Group restated an “outperform” rating and set a $55.00 price objective (up previously from $50.00) on shares of Textron in a report on Thursday, July 20th. Bank of America Corporation cut Textron from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $53.00 to $45.00 in a report on Friday, July 21st. Finally, Wells Fargo & Company restated an “outperform” rating and set a $54.00 price objective (up previously from $52.00) on shares of Textron in a report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $56.08.
Hedge funds have recently modified their holdings of the business. MRJ Capital Inc. purchased a new stake in shares of Textron in the 2nd quarter worth $3,589,000. Airain ltd purchased a new stake in shares of Textron in the 2nd quarter worth $2,608,000. Bank of Nova Scotia raised its position in shares of Textron by 939.6% in the 1st quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock worth $2,937,000 after acquiring an additional 55,782 shares in the last quarter. Highbridge Capital Management LLC raised its position in shares of Textron by 153.1% in the 1st quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock worth $253,000 after acquiring an additional 15,308 shares in the last quarter. Finally, NBT Bank N A NY raised its position in shares of Textron by 0.8% in the 2nd quarter. NBT Bank N A NY now owns 19,598 shares of the aerospace company’s stock worth $923,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 81.50% of the company’s stock.
Shares of Textron (TXT) traded down 0.02% during mid-day trading on Thursday, reaching $53.70. The company had a trading volume of 812,993 shares. The firm has a 50-day moving average price of $53.12 and a 200-day moving average price of $49.15. Textron has a 1-year low of $38.67 and a 1-year high of $55.80. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 16.42 and a beta of 1.59.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. Textron’s dividend payout ratio is 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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