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 -.

Textron Stock Down 1.3 %

NYSE TXT opened at $94.00 on Thursday. 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 1-year low of $61.27 and a 1-year high of $97.33. The company has a 50 day moving average of $92.11 and a 200-day moving average of $83.81. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.50 and a beta of 1.30.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts expect that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.75%.

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of recent analyst reports. StockNews.com raised shares of Textron from a buy rating to a strong-buy rating in a research note on Thursday, January 25th. 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 boosted their target price on shares of Textron from $104.00 to $111.00 and gave the stock a buy rating in a research note on Thursday, April 4th. UBS Group boosted their target price 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. Finally, Bank of America raised shares of Textron from a neutral rating to a buy rating and boosted their target price for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $93.63.

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.