Textron (NYSE:TXT) Releases FY 2019 Earnings Guidance

Textron (NYSE:TXT) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.65-3.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.70.

A number of brokerages have recently issued reports on TXT. Zacks Investment Research cut shares of Hope Bancorp from a strong-buy rating to a hold rating in a report on Tuesday, March 26th. Credit Suisse Group reiterated a buy rating and issued a $241.00 target price on shares of FedEx in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $64.60.

TXT opened at $54.03 on Wednesday. Textron has a 12-month low of $43.27 and a 12-month high of $72.87. The stock has a market capitalization of $12.44 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 1.15 and a beta of 1.76. The business has a 50 day simple moving average of $50.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 2.17.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, April 17th. The aerospace company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. Textron had a net margin of 8.79% and a return on equity of 15.66%. The firm had revenue of $31.09 million for the quarter, compared to analysts’ expectations of $3.17 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was down 99.1% compared to the same quarter last year. As a group, research analysts predict that Textron will post 3.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, June 13th. Textron’s payout ratio is 2.40%.

Textron Company Profile

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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Earnings History and Estimates for Textron (NYSE:TXT)

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