Textron (NYSE:TXT) Posts Earnings Results, Misses Estimates By $0.06 EPS

Textron (NYSE:TXT) issued its earnings results on Thursday. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.06), Briefing.com reports. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Textron updated its FY 2024 guidance to 5.400-5.600 EPS and its FY24 guidance to $5.40-$5.60 EPS.

Textron Stock Performance

TXT stock traded up $1.09 during midday trading on Friday, hitting $82.58. The company’s stock had a trading volume of 873,381 shares, compared to its average volume of 1,073,582. The stock’s 50-day moving average price is $87.81 and its 200 day moving average price is $88.19. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron has a 1 year low of $74.13 and a 1 year high of $97.33. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.43 and a beta of 1.23.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s payout ratio is 1.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TXT shares. UBS Group boosted their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and decreased their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. Bank of America boosted their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Citigroup boosted their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Robert W. Baird decreased their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

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.