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Analysts Anticipate Textron Inc. TXT) Will Announce Quarterly of $3.36

Wall Street brokerages forecast that Textron Inc. (NYSE:TXT) will report sales of $3.36 Textron’s earnings, with the lowest sales estimate coming in at $3.34 billion and the highest estimate coming in at $3.40 billion. Textron reported sales of $3.73 billion in the same quarter last year, which would suggest a negative year over year growth rate of 9.9%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, July 17th.

According to Zacks, analysts expect that Textron will report full-year sales of $13.81 billion for the current fiscal year, with estimates ranging from $13.70 billion to $13.94 report sales of $14.35 billion, with estimates ranging from $14.27 billion to $14.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Textron.

Get Textron alerts: Textron (NYSE:TXT) last announced its earnings results on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.43 billion. Textron had a return on equity of 15.66% and a net margin of 8.79%. Textron’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share.

Several research firms recently weighed in on TXT. Zacks Investment Research lowered Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Credit Suisse Group reiterated a “buy” rating and set a $241.00 price target on shares of FedEx in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company $64.60.

Shares of Textron stock traded down $5.15 on Friday, reaching $48.88. 6,345,565 shares of the company were exchanged, compared to its average volume of 1,653,329. The business has a fifty day simple moving average of $50.70. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.15 and a beta of 1.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.17 and a quick ratio of 0.99. Textron has a fifty-two week low of $43.27 and a fifty-two week high of $72.87.

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. Textron’s dividend payout ratio is currently 2.40%.

Institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its stake in shares of Textron by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 11,191 shares of the aerospace company’s stock worth $515,000 after purchasing an additional 197 shares during the last quarter. Bessemer Group Inc. raised its stake in Textron by 13.3% during the fourth quarter. Bessemer Group Inc. now owns 1,777 shares of the aerospace company’s stock valued at $82,000 after purchasing an additional 209 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Textron by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 31,219 shares of the aerospace company’s stock valued at $1,435,000 after purchasing an additional 272 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Textron by 3.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 10,052 shares of the aerospace company’s stock valued at $509,000 after purchasing an additional 353 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in Textron by 2.9% during the first quarter. First Allied Advisory Services Inc. now owns 12,879 shares of the aerospace company’s stock valued at $653,000 after purchasing an additional 357 shares in the last quarter. 83.98% of the stock is currently owned by institutional investors and hedge funds.

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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