Textron (TXT) Set to Announce Quarterly Earnings on Thursday

Textron (NYSE:TXT) will post its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Textron to post earnings of $1.56 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. Textron’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, analysts expect Textron to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Textron Trading Down 0.2 %

Shares of Textron stock opened at $87.66 on Thursday. The company has a market capitalization of $16.42 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.43 and a beta of 1.23. Textron has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The company has a fifty day moving average of $87.59 and a 200 day moving average of $88.46.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s payout ratio is 1.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TXT. Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Bank of America raised their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. UBS Group raised their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday. Finally, Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $102.75.

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.