$4.04 Billion in Sales Expected for Textron Inc. (TXT) This Quarter
Equities research analysts expect Textron Inc. (NYSE:TXT) to report $4.04 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made 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 during the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The business is expected to report its next earnings report on Wednesday, January 24th.
On average, 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 year, analysts forecast that the firm will report sales of $14.71 billion per share, with estimates ranging from $14.22 billion to $14.97 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Textron.
Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS.
TXT has been the topic of a number of analyst reports. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Credit Suisse Group AG reissued an “outperform” rating and set a $55.00 price objective (up previously from $50.00) on shares of Textron in a report on Thursday, July 20th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price objective on shares of Textron in a report on Tuesday, September 26th. Finally, Wells Fargo & Company increased their price objective on Textron from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Textron presently has a consensus rating of “Hold” and an average target price of $56.92.
Several hedge funds have recently made changes to their positions in TXT. Fox Run Management L.L.C. bought a new stake in shares of Textron in the 2nd quarter worth approximately $245,000. Creative Planning lifted its position in shares of Textron by 9.6% in the 2nd quarter. Creative Planning now owns 13,137 shares of the aerospace company’s stock worth $619,000 after acquiring an additional 1,154 shares during the period. National Pension Service lifted its position in shares of Textron by 9.0% in the 2nd quarter. National Pension Service now owns 275,376 shares of the aerospace company’s stock worth $12,844,000 after acquiring an additional 22,684 shares during the period. LS Investment Advisors LLC lifted its position in shares of Textron by 5.8% in the 2nd quarter. LS Investment Advisors LLC now owns 11,556 shares of the aerospace company’s stock worth $544,000 after acquiring an additional 636 shares during the period. Finally, Aperio Group LLC lifted its position in shares of Textron by 5.8% in the 2nd quarter. Aperio Group LLC now owns 103,912 shares of the aerospace company’s stock worth $4,894,000 after acquiring an additional 5,686 shares during the period. Institutional investors own 81.49% of the company’s stock.
Textron (TXT) opened at $53.57 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08. The company has a market capitalization of $14,295.83, a PE ratio of 21.62, a PEG ratio of 2.49 and a beta of 1.58. Textron has a fifty-two week low of $43.66 and a fifty-two week high of $55.80.
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 issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio (DPR) is currently 3.45%.
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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