Textron (NYSE:TXT) Releases 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 (EPS) guidance of 6.200-6.400 for the period, compared to the consensus estimate of 5.910. The company issued revenue guidance of -.

Textron Stock Down 1.3 %

Shares of TXT opened at $94.00 on Thursday. The stock has a market capitalization of $18.08 billion, a PE ratio of 20.57, a P/E/G ratio of 1.50 and a beta of 1.30. Textron has a 1 year low of $61.27 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The company’s 50-day simple moving average is $92.11 and its 200-day simple moving average is $83.81.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (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 analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts forecast that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th 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 0.09%. Textron’s payout ratio is 1.75%.

Analysts Set New Price Targets

TXT has been the topic of a number of recent research reports. Citigroup upped 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. The Goldman Sachs Group upped 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. Bank of America upgraded shares of Textron from a neutral rating to a buy rating and upped their target price for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. UBS Group upped 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, StockNews.com upgraded shares of Textron from a buy rating to a strong-buy rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $93.63.

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.