Textron (NYSE:TXT) released its quarterly earnings results on Wednesday. The aerospace company reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07, RTT News reports. Textron had a return on equity of 15.66% and a net margin of 8.79%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the firm posted $0.87 EPS. Textron’s quarterly revenue was down 13.4% compared to the same quarter last year. Textron updated its FY 2019 guidance to $3.65-3.85 EPS and its FY19 guidance to $3.65-3.85 EPS.
TXT stock opened at $48.88 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 2.17. The stock has a fifty day simple moving average of $50.70. Textron has a twelve month low of $43.27 and a twelve month high of $72.87. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.16 and a beta of 1.76.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. Textron’s payout ratio is 2.40%.
Several research firms recently weighed in on TXT. Credit Suisse Group restated a “buy” rating and set a $241.00 price target on shares of FedEx in a report on Monday, April 1st. Zacks Investment Research lowered Hope Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $64.60.
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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