Textron (TXT) Expected to Announce Quarterly Earnings on Wednesday

Textron (NYSE:TXT) will likely be issuing its quarterly earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $1.27 per share and revenue of $3,778,060.00 billion for the quarter. Textron has set its FY 2024 guidance at 5.400-5.600 EPS and its FY24 guidance at $5.40-$5.60 EPS.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the company posted $1.49 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts expect Textron to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Textron Stock Performance

NYSE:TXT traded up $0.58 during midday trading on Wednesday, reaching $78.62. 1,026,576 shares of the company traded hands, compared to its average volume of 1,296,431. The firm has a market capitalization of $14.58 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a fifty day moving average price of $81.20 and a 200 day moving average price of $85.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron has a twelve month low of $74.89 and a twelve month high of $97.33.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Friday, December 13th. Textron’s dividend payout ratio (DPR) is 1.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TXT shares. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen upgraded Textron to a “hold” rating in a research report on Thursday, December 19th. Finally, UBS Group cut their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.64.

Textron Company Profile

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.