Textron (TXT) Issues FY19 Earnings Guidance

Textron (NYSE:TXT) updated its FY19 earnings guidance on Wednesday. The company provided EPS guidance of $3.55-3.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.68. Textron also updated its FY 2019 guidance to $3.55-3.75 EPS.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Textron from a buy rating to a hold rating in a report on Tuesday, March 26th. Credit Suisse Group assumed coverage on shares of Textron in a report on Monday, April 1st. They issued a neutral rating and a $50.00 price target on the stock. Susquehanna Bancshares assumed coverage on shares of Textron in a report on Thursday, January 10th. They issued a neutral rating and a $52.00 price target on the stock. TheStreet cut shares of Textron from a b rating to a c+ rating in a report on Friday, January 4th. Finally, Jefferies Financial Group set a $59.00 price target on shares of Textron and gave the stock a buy rating in a report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $66.08.

Shares of TXT stock opened at $52.14 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. Textron has a 1 year low of $43.27 and a 1 year high of $72.87. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.65.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, April 17th. The aerospace company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Textron had a net margin of 8.75% and a return on equity of 15.51%. The business had revenue of $31.09 million for the quarter, compared to analysts’ expectations of $3.17 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down 99.1% compared to the same quarter last year. As a group, sell-side analysts expect that Textron will post 3.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Textron’s payout ratio is 2.40%.

In other Textron news, VP Mark S. Bamford sold 4,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $54.75, for a total transaction of $246,375.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Scott C. Donnelly sold 230,654 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $55.04, for a total transaction of $12,695,196.16. Following the transaction, the chairman now owns 707,495 shares of the company’s stock, valued at $38,940,524.80. The disclosure for this sale can be found here. Insiders have sold a total of 458,112 shares of company stock worth $25,222,635 in the last three months. Insiders own 1.40% of the company’s stock.

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Textron Company Profile

Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.

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Earnings History and Estimates for Textron (NYSE:TXT)

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