Textron (NYSE:TXT) Issues FY 2024 Earnings Guidance

by · The Cerbat Gem

Textron (NYSE:TXT – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.400-5.600 for the period, compared to the consensus EPS estimate of 6.110. The company issued revenue guidance of -. Textron also updated its FY24 guidance to $5.40-$5.60 EPS.

Analyst Upgrades and Downgrades

Several research firms have commented on TXT. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. lowered their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research report on Thursday, August 8th. Finally, UBS Group raised their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $102.75.

Check Out Our Latest Research Report on TXT

Textron Stock Down 6.2 %

Shares of NYSE TXT traded down $5.38 during midday trading on Thursday, reaching $81.49. 3,043,459 shares of the company’s stock traded hands, compared to its average volume of 1,074,547. The company has a market cap of $15.27 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 1.43 and a beta of 1.23. Textron has a one year low of $74.13 and a one year high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $87.94 and its 200-day simple moving average is $88.23.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is 1.69%.

About Textron

(Get Free Report)

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.

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