Textron (NYSE:TXT) Releases FY 2024 Earnings Guidance

Textron (NYSE:TXT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.200-6.400 for the period, compared to the consensus EPS estimate of 5.910. The company issued revenue guidance of -.

Textron Trading Up 1.9 %

TXT stock traded up $1.61 during mid-day trading on Friday, hitting $86.51. 2,663,222 shares of the company were exchanged, compared to its average volume of 1,221,088. Textron has a 12-month low of $61.27 and a 12-month high of $97.33. The firm has a market capitalization of $16.64 billion, a P/E ratio of 18.93, a PEG ratio of 1.48 and a beta of 1.30. The business has a fifty day simple moving average of $92.09 and a 200-day simple moving average of $83.81. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. Textron’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 earnings per share. On average, equities research analysts predict that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s dividend payout ratio is currently 1.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Susquehanna lowered their price objective on Textron from $110.00 to $105.00 and set a positive rating on the stock in a report on Friday. Citigroup boosted their price target on Textron from $104.00 to $111.00 and gave the company a buy rating in a report on Thursday, April 4th. The Goldman Sachs Group increased their price target on shares of Textron from $103.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Bank of America upgraded Textron from a neutral rating to a buy rating and boosted their target price for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Finally, UBS Group upped their price target on shares of Textron from $77.00 to $81.00 and gave the stock a sell rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Textron presently has a consensus rating of Moderate Buy and a consensus target price of $95.63.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.