Textron (NYSE:TXT) Releases FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup increased their price target on Textron from $104.00 to $111.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Bank of America upgraded Textron from a neutral rating to a buy rating and increased their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. Susquehanna cut their price target on Textron from $110.00 to $105.00 and set a positive rating for the company in a research note on Friday. StockNews.com downgraded Textron from a strong-buy rating to a buy rating in a research note on Friday. Finally, The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $95.63.

Textron Price Performance

NYSE TXT traded up $1.61 during trading hours on Friday, hitting $86.51. The company had a trading volume of 2,678,528 shares, compared to its average volume of 1,219,291. The firm has a 50 day simple moving average of $92.10 and a 200 day simple moving average of $83.86. Textron has a 52 week low of $61.27 and a 52 week high of $97.33. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.33 and a beta of 1.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.03 and a current ratio of 1.66.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the business earned $1.05 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Textron will post 6.3 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s payout ratio is currently 1.71%.

About Textron

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.