Textron (NYSE:TXT) Updates FY 2024 Earnings Guidance

Textron (NYSE:TXT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 6.200-6.400 for the period, compared to the consensus earnings per share estimate of 5.910. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Textron from $103.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Citigroup increased their price target on shares of Textron from $104.00 to $111.00 and gave the company a buy rating in a research note on Thursday, April 4th. UBS Group raised their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a sell rating in a report on Friday, January 26th. Susquehanna lowered their target price on shares of Textron from $110.00 to $105.00 and set a positive rating for the company in a report on Friday. Finally, Bank of America upgraded shares of Textron from a neutral rating to a buy rating and lifted their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $95.63.

Textron Stock Performance

Shares of TXT opened at $86.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.41. Textron has a 52-week low of $61.27 and a 52-week high of $97.33. The company has a 50-day simple moving average of $92.10 and a 200-day simple moving average of $83.90. The company has a market capitalization of $16.64 billion, a PE ratio of 18.49, a P/E/G ratio of 1.36 and a beta of 1.30.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Textron will post 6.29 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.71%.

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.