Textron (NYSE:TXT) Releases FY 2024 Earnings Guidance

Textron (NYSE:TXT - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.200-6.400 for the period, compared to the consensus EPS estimate of 5.910. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of brokerages have issued reports on TXT. Bank of America upgraded shares of Textron from a neutral rating to a buy rating and increased their price objective for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. UBS Group increased their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a sell rating in a research note on Friday, January 26th. StockNews.com upgraded shares of Textron from a buy rating to a strong-buy rating in a research note on Thursday, January 25th. The Goldman Sachs Group raised their price target on shares of Textron from $103.00 to $120.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, Citigroup raised 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Textron presently has a consensus rating of Moderate Buy and an average target price of $93.63.

Textron Trading Down 9.7 %

NYSE:TXT traded down $9.09 during mid-day trading on Thursday, hitting $84.92. 5,137,980 shares of the company's stock were exchanged, compared to its average volume of 1,203,056. The company has a 50 day simple moving average of $92.09 and a 200-day simple moving average of $83.81. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Textron has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The firm has a market capitalization of $16.34 billion, a P/E ratio of 18.58, a PEG ratio of 1.50 and a beta of 1.30.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the company earned $1.07 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Textron will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron's payout ratio is 1.75%.

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.