$4.04 Billion in Sales Expected for Textron Inc. (TXT) This Quarter
Equities research analysts forecast that Textron Inc. (NYSE:TXT) will report $4.04 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Textron’s earnings, with the lowest sales estimate coming in at $3.87 billion and the highest estimate coming in at $4.19 billion. Textron posted sales of $3.83 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.5%. The company is expected to announce its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that Textron will report full-year sales of $4.04 billion for the current fiscal year, with estimates ranging from $14.05 billion to $14.37 billion. For the next fiscal year, analysts anticipate that the business will post sales of $14.68 billion per share, with estimates ranging from $14.22 billion to $14.97 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Textron.
Textron (NYSE:TXT) last announced its earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS.
Several research analysts recently weighed in on TXT shares. Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Jefferies Group restated a “buy” rating and issued a $60.00 price objective on shares of Textron in a research report on Tuesday, September 26th. Wells Fargo & Company boosted their price objective on shares of Textron from $54.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Finally, Credit Suisse Group dropped their price objective on shares of Textron from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.92.
Shares of Textron (NYSE:TXT) traded down $0.82 on Monday, hitting $54.89. The stock had a trading volume of 1,451,400 shares, compared to its average volume of 1,548,381. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. Textron has a fifty-two week low of $43.66 and a fifty-two week high of $55.83. The firm has a market cap of $14,459.15, a P/E ratio of 21.87, a P/E/G ratio of 2.52 and a beta of 1.57.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s payout ratio is 3.45%.
Several institutional investors have recently modified their holdings of TXT. Neuberger Berman Group LLC raised its position in shares of Textron by 28.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock valued at $203,650,000 after acquiring an additional 957,464 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Textron by 27.3% during the 2nd quarter. Victory Capital Management Inc. now owns 3,727,749 shares of the aerospace company’s stock valued at $175,577,000 after acquiring an additional 799,779 shares during the last quarter. BlackRock Inc. raised its position in shares of Textron by 3.8% during the 2nd quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock valued at $838,370,000 after acquiring an additional 655,034 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Textron by 1,002.8% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 512,913 shares of the aerospace company’s stock valued at $27,634,000 after acquiring an additional 466,402 shares during the last quarter. Finally, Impala Asset Management LLC bought a new stake in shares of Textron during the 3rd quarter valued at $21,215,000. Institutional investors own 82.03% of the company’s stock.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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