Equities research analysts expect that Textron Inc. (NYSE:TXT) will announce $0.86 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Textron’s earnings, with the lowest EPS estimate coming in at $0.78 and the highest estimate coming in at $0.93. Textron posted earnings per share of $0.61 during the same quarter last year, which would indicate a positive year-over-year growth rate of 41%. The business is scheduled to issue its next earnings results on Thursday, October 17th.
On average, analysts expect that Textron will report full year earnings of $3.75 per share for the current year, with EPS estimates ranging from $3.65 to $3.80. For the next financial year, analysts expect that the firm will post earnings of $4.04 per share, with EPS estimates ranging from $3.95 to $4.20. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Textron.
Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.43 billion. Textron had a net margin of 9.07% and a return on equity of 15.55%. Textron’s revenue was down 13.4% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS.
Shares of TXT stock traded up $1.18 during trading hours on Monday, reaching $52.58. The company had a trading volume of 1,326,447 shares, compared to its average volume of 1,377,293. The business has a fifty day moving average price of $46.35 and a 200-day moving average price of $50.03. Textron has a one year low of $42.30 and a one year high of $72.87. The firm has a market cap of $11.81 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 2.17.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Textron’s dividend payout ratio is presently 2.40%.
Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Textron by 2.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 29,575,191 shares of the aerospace company’s stock worth $1,568,668,000 after acquiring an additional 651,668 shares during the period. Invesco Ltd. increased its holdings in shares of Textron by 25.8% in the 2nd quarter. Invesco Ltd. now owns 6,305,455 shares of the aerospace company’s stock worth $334,441,000 after buying an additional 1,294,521 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Textron by 4.1% in the 2nd quarter. Primecap Management Co. CA now owns 5,509,660 shares of the aerospace company’s stock worth $292,232,000 after buying an additional 217,300 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Textron by 9.2% in the 2nd quarter. Victory Capital Management Inc. now owns 5,105,820 shares of the aerospace company’s stock worth $270,812,000 after buying an additional 431,683 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Textron by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 3,144,494 shares of the aerospace company’s stock worth $144,357,000 after buying an additional 131,360 shares during the last quarter. Hedge funds and other institutional investors own 82.62% of the company’s stock.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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