Textron (TXT) Expected to Post Earnings of $0.70 Per Share

Wall Street analysts expect Textron (NYSE:TXT) to report earnings of $0.70 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Textron’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.64. Textron reported earnings of $0.60 per share in the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The business is expected to report its next quarterly earnings results on Wednesday, July 18th.

On average, analysts expect that Textron will report full year earnings of $3.12 per share for the current fiscal year, with EPS estimates ranging from $2.97 to $3.25. For the next fiscal year, analysts forecast that the company will report earnings of $3.58 per share, with EPS estimates ranging from $3.39 to $3.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Textron.

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Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, April 18th. The aerospace company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.26. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.06 billion. Textron had a net margin of 2.74% and a return on equity of 12.65%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share.

Several equities analysts have recently weighed in on TXT shares. Citigroup raised their price target on shares of Textron from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Cowen reissued a “buy” rating and issued a $70.00 price target on shares of Textron in a research note on Monday, January 8th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Jefferies Group reissued a “buy” rating and issued a $74.00 price target on shares of Textron in a research note on Sunday, February 4th. Finally, Bank of America raised shares of Textron from an “underperform” rating to a “buy” rating and raised their price target for the stock from $57.00 to $75.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $67.17.

A number of hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its stake in Textron by 33.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 18,479 shares of the aerospace company’s stock worth $1,046,000 after purchasing an additional 4,596 shares during the period. Envestnet Asset Management Inc. raised its stake in Textron by 38.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 8,438 shares of the aerospace company’s stock worth $477,000 after purchasing an additional 2,356 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Textron during the fourth quarter valued at about $4,612,000. BB&T Securities LLC increased its position in shares of Textron by 45.4% during the fourth quarter. BB&T Securities LLC now owns 5,480 shares of the aerospace company’s stock valued at $310,000 after acquiring an additional 1,712 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Textron by 25.5% during the fourth quarter. Glenmede Trust Co. NA now owns 7,377 shares of the aerospace company’s stock valued at $417,000 after acquiring an additional 1,500 shares during the last quarter. 83.26% of the stock is currently owned by institutional investors.

Shares of NYSE:TXT traded up $0.11 during midday trading on Tuesday, hitting $65.59. The company’s stock had a trading volume of 3,353,007 shares, compared to its average volume of 1,912,349. The company has a current ratio of 2.04, a quick ratio of 1.06 and a debt-to-equity ratio of 0.54. The company has a market cap of $17,169.63, a P/E ratio of 26.77, a P/E/G ratio of 2.03 and a beta of 1.36. Textron has a 12-month low of $45.00 and a 12-month high of $65.99.

The company also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Friday, March 9th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, March 8th. Textron’s dividend payout ratio (DPR) is presently 3.27%.

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Textron Company Profile

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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Earnings History and Estimates for Textron (NYSE:TXT)

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