Textron (TXT) to Release Earnings on Thursday

Textron (NYSE:TXT - Get Free Report) is set to announce its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $1.56 per share for the quarter. Individual that are interested in registering for the company's earnings conference call can do so using this link.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company's revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. On average, analysts expect Textron to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Textron Stock Up 3.1 %

Shares of TXT traded up $2.68 during mid-day trading on Thursday, reaching $90.32. 1,245,195 shares of the stock traded hands, compared to its average volume of 1,067,016. The stock has a fifty day simple moving average of $87.59 and a 200 day simple moving average of $88.46. Textron has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.43 and a beta of 1.23.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron's dividend payout ratio is currently 1.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lowered shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 target price on the stock. in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday. Bank of America raised their target price on shares of Textron from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the company a "buy" rating in a report on Monday, July 22nd. Finally, StockNews.com downgraded Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $102.75.

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.