Textron (NYSE:TXT - Get Free Report) announced its quarterly earnings data on Thursday. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09), Briefing.com reports. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the firm posted $1.49 earnings per share. The business's quarterly revenue was up 2.5% compared to the same quarter last year. Textron updated its FY 2024 guidance to 5.400-5.600 EPS and its FY24 guidance to $5.40-$5.60 EPS.
Textron Stock Up 1.1 %
Textron stock opened at $82.35 on Monday. Textron has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. The stock's fifty day moving average is $87.70 and its two-hundred day moving average is $87.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.
Textron Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron's payout ratio is 1.76%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on TXT. Citigroup boosted their price target on shares of Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research report on Friday. JPMorgan Chase & Co. reduced their price target on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, October 14th. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. Finally, Morgan Stanley downgraded Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Textron currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.56.
Check Out Our Latest Stock Analysis on Textron
About Textron
(
Get Free Report)
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.
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