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 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 %

Textron stock opened at $82.35 on Friday. Textron has a 1-year low of $74.13 and a 1-year high of $97.33. The business has a fifty day moving average price of $87.70 and a 200-day moving average price of $88.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.43 and a beta of 1.23.

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

Textron Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented 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. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday. JPMorgan Chase & Co. cut their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Bank of America lifted their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird cut their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.56.

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.