Zacks: Brokerages Expect Textron Inc. (TXT) to Post $0.77 EPS

Equities research analysts predict that Textron Inc. (NYSE:TXT) will announce earnings per share of $0.77 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Textron’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.72. Textron reported earnings of $0.80 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.8%. The company is expected to report its next earnings results before the market opens on Wednesday, January 31st.

On average, analysts expect that Textron will report full year earnings of $2.47 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.50. For the next year, analysts expect that the company will report earnings of $2.80 per share, with EPS estimates ranging from $2.71 to $2.99. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Textron.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. Textron’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share.

Several research analysts recently issued reports on TXT shares. Jefferies Group reissued a “buy” rating and set a $65.00 target price on shares of Textron in a research note on Friday, October 20th. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Thursday, September 21st. Drexel Hamilton raised shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Monday, September 11th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Finally, Citigroup raised their price objective on shares of Textron from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Textron currently has a consensus rating of “Hold” and a consensus target price of $57.82.

Textron (NYSE TXT) opened at $56.35 on Wednesday. The stock has a market cap of $14,547.39, a price-to-earnings ratio of 22.00, a P/E/G ratio of 2.53 and a beta of 1.57. Textron has a 12 month low of $43.66 and a 12 month high of $56.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio (DPR) is 3.45%.

Several institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC purchased a new stake in shares of Textron in the third quarter valued at about $110,000. Invictus RG purchased a new stake in shares of Textron in the third quarter valued at about $115,000. Bessemer Group Inc. raised its holdings in shares of Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after purchasing an additional 1,043 shares during the last quarter. Global X Management Co. LLC raised its holdings in shares of Textron by 16.5% in the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after purchasing an additional 433 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Textron in the third quarter valued at about $201,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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About Textron

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

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