Textron (TXT) to Release Quarterly Earnings on Thursday

Textron (NYSE:TXT) is scheduled to announce its earnings results before the market opens on Thursday, April 25th. Analysts expect Textron to post earnings of $1.33 per share for the quarter. Textron has set its FY24 guidance at $6.20-6.40 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.07. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. On average, analysts expect Textron to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Textron Trading Up 0.5 %

Shares of NYSE TXT opened at $93.77 on Tuesday. The company has a market cap of $18.04 billion, a PE ratio of 20.52, a P/E/G ratio of 1.47 and a beta of 1.30. Textron has a 52-week low of $61.27 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The firm’s 50 day moving average price is $91.77 and its 200-day moving average price is $83.61.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.75%.

Analyst Ratings Changes

Several analysts recently issued reports on TXT shares. Citigroup boosted their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. UBS Group increased their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $105.00 in a report on Friday, March 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and an average target price of $93.63.

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.