Textron (NYSE:TXT) Releases FY 2024 Earnings Guidance

Textron (NYSE:TXT) updated its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 6.200-6.400 for the period, compared to the consensus EPS estimate of 5.910. The company issued revenue guidance of -.

Textron Stock Performance

Shares of Textron stock traded down $9.09 during trading on Thursday, hitting $84.92. 5,137,980 shares of the stock were exchanged, compared to its average volume of 1,203,056. Textron has a 1-year low of $61.27 and a 1-year high of $97.33. The stock has a market capitalization of $16.34 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a fifty day moving average price of $92.09 and a 200-day moving average price of $83.81. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that Textron will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s payout ratio is presently 1.75%.

Analysts Set New Price Targets

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