Textron (TXT) Updates FY 2018 Earnings Guidance

Textron (NYSE:TXT) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.20-3.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.32. Textron also updated its FY18 guidance to $3.20-3.30 EPS.

NYSE:TXT opened at $56.75 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.11 and a current ratio of 2.02. Textron has a one year low of $52.33 and a one year high of $72.87. The company has a market cap of $14.28 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.40.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 18th. The aerospace company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.15). Textron had a return on equity of 13.72% and a net margin of 6.11%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. On average, analysts expect that Textron will post 3.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.14%. Textron’s dividend payout ratio is presently 3.27%.

Several equities research analysts recently commented on TXT shares. Zacks Investment Research downgraded shares of Textron from a buy rating to a hold rating in a research report on Tuesday, September 18th. Jefferies Financial Group lifted their target price on shares of Textron to $82.00 and gave the stock a buy rating in a research report on Wednesday, September 26th. Bank of America set a $78.00 target price on shares of Textron and gave the stock a buy rating in a research report on Wednesday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Textron from $74.00 to $77.00 and gave the stock a $66.52 rating in a research report on Monday, July 23rd. Finally, Cowen reiterated a $66.44 rating and set a $73.00 target price on shares of Textron in a research report on Wednesday, July 18th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $73.33.

In other Textron news, EVP E Robert Lupone sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $67.50, for a total transaction of $3,037,500.00. Following the completion of the transaction, the executive vice president now owns 121,838 shares in the company, valued at approximately $8,224,065. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Scott C. Donnelly sold 82,647 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $67.17, for a total transaction of $5,551,398.99. Following the transaction, the chairman now owns 639,916 shares of the company’s stock, valued at approximately $42,983,157.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,209 shares of company stock valued at $9,035,968. Company insiders own 1.20% of the company’s stock.

About Textron

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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