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

Equities analysts expect that Textron Inc. (NYSE:TXT) will post earnings per share (EPS) of $0.70 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Textron’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.83. Textron posted earnings per share of $0.72 in the same quarter last year, which suggests a negative year over year growth rate of 2.8%. The company is scheduled to issue its next earnings results on Wednesday, April 17th.

On average, analysts expect that Textron will report full year earnings of $3.62 per share for the current year, with EPS estimates ranging from $3.48 to $3.70. For the next year, analysts expect that the firm will report earnings of $4.04 per share, with EPS estimates ranging from $3.80 to $4.20. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Textron.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, January 24th. The aerospace company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. Textron had a net margin of 8.75% and a return on equity of 15.51%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the business posted $0.74 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year.

TXT has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Textron from a “c+” rating to a “b” rating in a report on Thursday, January 31st. Jefferies Financial Group set a $59.00 price objective on shares of Textron and gave the stock a “buy” rating in a report on Tuesday, January 8th. Cowen reiterated a “buy” rating and issued a $70.00 price objective on shares of Textron in a report on Monday, December 17th. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Saturday, February 2nd. Finally, Morgan Stanley cut their price objective on shares of Textron from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 14th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Textron currently has an average rating of “Buy” and an average price target of $68.25.

TXT stock traded down $1.04 during trading on Thursday, reaching $53.07. The stock had a trading volume of 1,674,747 shares, compared to its average volume of 2,123,948. Textron has a 1-year low of $43.27 and a 1-year high of $72.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.89 and a quick ratio of 0.80. The firm has a market capitalization of $12.99 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.19 and a beta of 1.71.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXT. Levin Capital Strategies L.P. bought a new stake in shares of Textron in the 4th quarter worth about $66,381,000. Oregon Public Employees Retirement Fund increased its position in shares of Textron by 4,444.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,274,199 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 1,246,159 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Textron by 191.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 945,000 shares of the aerospace company’s stock worth $43,461,000 after purchasing an additional 621,000 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Textron by 11.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,409,907 shares of the aerospace company’s stock worth $202,812,000 after purchasing an additional 470,595 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Textron by 80.9% in the 3rd quarter. Janus Henderson Group PLC now owns 1,013,388 shares of the aerospace company’s stock worth $72,428,000 after purchasing an additional 453,259 shares during the last quarter. 83.77% of the stock is owned by institutional investors.

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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