Textron Inc. (TXT) Issues FY17 Earnings Guidance
- Author: Zachary Reyes Apr 20, 2017,
Apr 20, 2017, 19:34
As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Textron Inc. Deutsche Bank maintained the shares of TXT in report on Monday, December 5 with "Hold" rating. Stephens assumed coverage on Textron in a research report on Thursday, April 13th. Robert W. Baird reissued an outperform rating and issued a $60.00 price objective on shares of Textron in a research note on Friday, January 20th. Jefferies Group LLC reiterated a "buy" rating and issued a $60.00 target price on shares of Textron in a report on Tuesday, March 21st. Textron presently has an average rating of "Hold" and a consensus price target of $49.11. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance.
Textron (NYSE:TXT) opened at 46.54 on Friday. The company's 50-day moving average is $47.46 and its 200-day moving average is $46.01. The firm has a market capitalization of $12.79 billion, a PE ratio of 13.42 and a beta of 1.61.
Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, April 19th.
Heading into the earnings release, covering sell-side analysts have a consensus target price of $52.92 on Textron Inc. shares. The business earned $3.09 billion during the quarter, compared to analysts' expectations of $3.16 billion.
In the trailing 12 months period, return on assets ratio of the Company was 6.30% and return on equity ratio was 18.00% while its return on investment ratio was 11.00%. Textron's revenue for the quarter was down 3.4% on a year-over-year basis.
Textron's income from continuing operations fell to $100 million, or 37 cents per share, in the first quarter ended April 1, from $151 million, or 55 cents per share, a year earlier.
Analysts expect Textron Inc.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. The ex-dividend date of this dividend was Wednesday, March 8th. Textron had 14 analyst reports since September 2, 2015 according to SRatingsIntel.
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"At Bell, revenues were down on lower military volumes for the quarter due to the timing of the H-1 deliveries", Textron chief executive Scott Donnelly told investors on a conference call, noting Bell delivered only three H-1s, down from 10 in the first quarter of 2016.
The share price of Textron Inc. Sowell Financial Services LLC bought a new stake in shares of Textron during the fourth quarter valued at approximately $209,000. Wagner Bowman Management Corp raised its stake in Textron by 8.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,130,016 shares of the company's stock worth $283,418,000 after buying an additional 85,459 shares during the period. Advisor Group Inc. now owns 4,046 shares of the aerospace company's stock valued at $161,000 after buying an additional 2,065 shares during the period. Advisor Group Inc. boosted its stake in shares of Textron by 104.2% in the third quarter.