Brokerages expect Textron Inc. (NYSE:TXT) to announce $3.12 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Textron’s earnings. The highest sales estimate is $3.17 billion and the lowest is $3.08 billion. Textron posted sales of $3.09 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The business is expected to announce its next quarterly earnings results on Wednesday, April 18th.
According to Zacks, analysts expect that Textron will report full year sales of $3.12 billion for the current fiscal year, with estimates ranging from $14.49 billion to $14.72 billion. For the next fiscal year, analysts forecast that the business will report sales of $15.27 billion per share, with estimates ranging from $15.03 billion to $15.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Textron.
Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 31st. The aerospace company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.03). The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.06 billion. Textron had a return on equity of 11.58% and a net margin of 2.16%. Textron’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 earnings per share.
Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Textron by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 416,185 shares of the aerospace company’s stock worth $22,424,000 after buying an additional 2,391 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Textron by 1.0% in the 3rd quarter. First Trust Advisors LP now owns 904,301 shares of the aerospace company’s stock worth $48,724,000 after buying an additional 9,022 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Textron by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,604,911 shares of the aerospace company’s stock worth $194,233,000 after buying an additional 32,525 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of 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 worth $1,058,000 after buying an additional 3,776 shares during the last quarter. Finally, Regentatlantic Capital LLC lifted its position in shares of Textron by 10.7% in the 3rd quarter. Regentatlantic Capital LLC now owns 95,060 shares of the aerospace company’s stock worth $5,122,000 after buying an additional 9,155 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.
Textron (NYSE TXT) opened at $56.31 on Friday. The firm has a market cap of $15,254.68, a price-to-earnings ratio of 49.40, a price-to-earnings-growth ratio of 1.82 and a beta of 1.45. The company has a current ratio of 1.92, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54. Textron has a fifty-two week low of $45.00 and a fifty-two week high of $62.19.
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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