$4.04 Billion in Sales Expected for Textron Inc. (TXT) This Quarter
Equities research analysts forecast that Textron Inc. (NYSE:TXT) will report $4.04 billion in sales for the current quarter, according to Zacks. Four analysts have issued 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 in the same quarter last year, which would indicate a positive year over year growth rate of 5.5%. The company is expected to announce its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that Textron will report full-year sales of $4.04 billion for the current fiscal year, with estimates ranging from $14.05 billion to $14.37 billion. For the next fiscal year, analysts anticipate that the business will post sales of $14.68 billion per share, with estimates ranging from $14.22 billion to $14.97 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Textron.
Textron (NYSE:TXT) last announced its earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS.
Shares of Textron (NYSE:TXT) traded down $0.82 on Monday, hitting $54.89. The stock had a trading volume of 1,451,400 shares, compared to its average volume of 1,548,381. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. Textron has a fifty-two week low of $43.66 and a fifty-two week high of $55.83. The firm has a market cap of $14,459.15, a P/E ratio of 21.87, a P/E/G ratio of 2.52 and a beta of 1.57.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s payout ratio is 3.45%.
Several institutional investors have recently modified their holdings of TXT. Neuberger Berman Group LLC raised its position in shares of Textron by 28.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock valued at $203,650,000 after acquiring an additional 957,464 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Textron by 27.3% during the 2nd quarter. Victory Capital Management Inc. now owns 3,727,749 shares of the aerospace company’s stock valued at $175,577,000 after acquiring an additional 799,779 shares during the last quarter. BlackRock Inc. raised its position in shares of Textron by 3.8% during the 2nd quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock valued at $838,370,000 after acquiring an additional 655,034 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Textron by 1,002.8% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 512,913 shares of the aerospace company’s stock valued at $27,634,000 after acquiring an additional 466,402 shares during the last quarter. Finally, Impala Asset Management LLC bought a new stake in shares of Textron during the 3rd quarter valued at $21,215,000. Institutional investors own 82.03% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.