Textron (NYSE:TXT) Announces Earnings Results
Textron (NYSE:TXT) issued its earnings results on Wednesday. The aerospace company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07, RTT News reports. Textron had a return on equity of 15.66% and a net margin of 8.79%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. Textron’s revenue was down 13.4% on a year-over-year basis. Textron updated its FY 2019 guidance to $3.65-3.85 EPS and its FY19 guidance to $3.65-3.85 EPS.
NYSE TXT opened at $48.88 on Thursday. Textron has a 52 week low of $43.27 and a 52 week high of $72.87. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.16 and a beta of 1.76. The company has a quick ratio of 0.99, a current ratio of 2.17 and a debt-to-equity ratio of 0.67. The company’s 50-day simple moving average is $50.70.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, June 13th. Textron’s payout ratio is currently 2.40%.
A number of equities analysts have weighed in on the company. Credit Suisse Group reissued a “buy” rating and issued a $241.00 target price on shares of FedEx in a research report on Monday, April 1st. Zacks Investment Research lowered Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $64.60.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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