Zacks: Brokerages Expect Textron Inc. (TXT) to Announce $0.76 EPS

Wall Street brokerages predict that Textron Inc. (NYSE:TXT) will report earnings per share (EPS) of $0.76 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Textron’s earnings, with the lowest EPS estimate coming in at $0.72 and the highest estimate coming in at $0.79. Textron posted earnings of $0.80 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 5%. The company is scheduled to report its next earnings report before the market opens on Wednesday, January 31st.

On average, analysts expect that Textron will report full year earnings of $2.47 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.50. For the next financial year, analysts anticipate that the business will post earnings of $2.80 per share, with EPS estimates ranging from $2.68 to $2.99. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Textron.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis.

A number of analysts have recently issued reports on TXT shares. Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Jefferies Group reissued a “buy” rating and issued a $60.00 price objective on shares of Textron in a research note on Tuesday, September 26th. Wells Fargo & Co increased their price objective on shares of Textron from $54.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Finally, Credit Suisse Group reduced their price objective on shares of Textron from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $57.82.

Textron (NYSE:TXT) traded down $0.05 on Friday, reaching $57.58. 1,190,100 shares of the company’s stock traded hands, compared to its average volume of 1,169,300. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $15,220.00, a P/E ratio of 24.82, a PEG ratio of 2.33 and a beta of 1.57. Textron has a fifty-two week low of $43.66 and a fifty-two week high of $57.90.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 15th were paid a $0.02 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Textron’s payout ratio is currently 3.45%.

Several large investors have recently modified their holdings of TXT. Eaton Vance Management grew its position in shares of Textron by 26.1% in the 2nd quarter. Eaton Vance Management now owns 280,815 shares of the aerospace company’s stock worth $13,226,000 after buying an additional 58,080 shares during the last quarter. Rhumbline Advisers raised its stake in Textron by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 416,185 shares of the aerospace company’s stock valued at $22,424,000 after purchasing an additional 2,391 shares during the last quarter. First Trust Advisors LP grew its holdings in Textron by 1.0% in the 3rd quarter. First Trust Advisors LP now owns 904,301 shares of the aerospace company’s stock valued at $48,724,000 after buying an additional 9,022 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Textron by 20.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 22,472 shares of the aerospace company’s stock valued at $1,058,000 after buying an additional 3,776 shares during the period. Finally, Regentatlantic Capital LLC grew its holdings in Textron by 10.7% in the 3rd quarter. Regentatlantic Capital LLC now owns 95,060 shares of the aerospace company’s stock valued at $5,122,000 after buying an additional 9,155 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.

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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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