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 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 -.

Textron Trading Down 9.7 %

TXT traded down $9.09 during trading on Thursday, reaching $84.92. The company had a trading volume of 5,137,980 shares, compared to its average volume of 1,203,056. The firm’s 50-day simple moving average is $92.09 and its 200 day simple moving average is $83.81. 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 has a market cap of $16.34 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.50 and a beta of 1.30. Textron has a 12-month low of $61.27 and a 12-month high of $97.33.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the business earned $1.07 EPS. The company’s revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Textron will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s payout ratio is presently 1.75%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TXT shares. StockNews.com raised Textron from a buy rating to a strong-buy rating in a research report on Thursday, January 25th. Bank of America raised shares of Textron from a neutral rating to a buy rating and raised their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. UBS Group increased their price target 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. The Goldman Sachs Group lifted their price objective 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 upped their price objective on shares of Textron from $104.00 to $111.00 and gave the stock a buy rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Textron has a consensus rating of Moderate Buy and a consensus target price 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.