Textron (NYSE:TXT) Issues FY 2024 Earnings Guidance

Textron (NYSE:TXT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.400-5.600 for the period, compared to the consensus estimate of 6.110. The company issued revenue guidance of -. Textron also updated its FY24 guidance to $5.40-$5.60 EPS.

Textron Stock Up 1.1 %

NYSE TXT traded up $0.86 during trading hours on Friday, hitting $82.35. 1,626,034 shares of the company were exchanged, compared to its average volume of 1,077,218. 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 52-week low of $74.13 and a 52-week high of $97.33. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.43 and a beta of 1.23. The company has a 50 day moving average of $87.81 and a two-hundred day moving average of $88.19.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.06). Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business earned $1.49 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Textron will post 6.1 earnings per share for the current year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on TXT. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. Robert W. Baird decreased their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Citigroup lifted their price objective on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

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.