Analysts Anticipate Textron Inc. (NYSE:TXT) to Announce $0.61 Earnings Per Share

Equities research analysts expect that Textron Inc. (NYSE:TXT) will announce earnings of $0.61 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Textron’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.49. Textron posted earnings per share of $0.13 during the same quarter last year, which suggests a positive year-over-year growth rate of 369.2%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, July 29th.

According to Zacks, analysts expect that Textron will report full-year earnings of $3.16 per share for the current year, with EPS estimates ranging from $2.95 to $3.35. For the next year, analysts forecast that the company will report earnings of $3.77 per share, with EPS estimates ranging from $3.60 to $3.90. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover Textron.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 29th. The aerospace company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.23. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.75 billion. Textron had a net margin of 3.66% and a return on equity of 9.61%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS.

A number of research analysts have commented on TXT shares. Robert W. Baird raised shares of Textron from a “neutral” rating to an “outperform” rating and raised their target price for the company from $57.00 to $72.00 in a research report on Friday, April 30th. Barclays raised shares of Textron from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $68.00 in a research report on Wednesday, March 31st. Jefferies Financial Group lifted their price objective on shares of Textron from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, May 3rd. Credit Suisse Group lifted their price objective on shares of Textron from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Textron in a research report on Friday, July 16th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $65.50.

NYSE TXT traded down $0.75 during trading on Friday, reaching $67.91. 8,245 shares of the company’s stock traded hands, compared to its average volume of 1,102,478. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.45 and a current ratio of 2.64. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 0.85 and a beta of 1.79. The company has a 50 day simple moving average of $67.51. Textron has a 12-month low of $31.82 and a 12-month high of $70.68.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 1st. Shareholders of record on Friday, June 11th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Thursday, June 10th. Textron’s payout ratio is 3.86%.

In related news, Director Kathleen M. Bader sold 10,775 shares of the business’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $64.00, for a total value of $689,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TXT. Victory Capital Management Inc. lifted its stake in shares of Textron by 11.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,555,085 shares of the aerospace company’s stock valued at $423,689,000 after purchasing an additional 794,825 shares during the period. SummerHaven Investment Management LLC acquired a new position in shares of Textron in the 4th quarter valued at $633,000. Boston Partners lifted its stake in shares of Textron by 8.6% in the 1st quarter. Boston Partners now owns 6,850,852 shares of the aerospace company’s stock valued at $384,280,000 after purchasing an additional 545,155 shares during the period. Price T Rowe Associates Inc. MD raised its position in Textron by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 35,518,606 shares of the aerospace company’s stock worth $1,991,883,000 after acquiring an additional 392,435 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Textron by 21.0% during the first quarter. Nuveen Asset Management LLC now owns 1,936,872 shares of the aerospace company’s stock worth $108,620,000 after acquiring an additional 336,138 shares during the period. Hedge funds and other institutional investors own 84.86% of the company’s stock.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as offers maintenance, inspection, and repair services.

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Earnings History and Estimates for Textron (NYSE:TXT)

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