Textron (NYSE:TXT) Releases FY24 Earnings Guidance

Textron (NYSE:TXT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.40-$5.60 for the period, compared to the consensus earnings per share estimate of $6.12. Textron also updated its FY 2024 guidance to 5.400-5.600 EPS.

Textron Price Performance

Shares of NYSE:TXT opened at $81.50 on Thursday. The company’s fifty day moving average is $87.94 and its 200 day moving average is $88.23. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron has a 52 week low of $74.13 and a 52 week high of $97.33. The stock has a market cap of $15.27 billion, a PE ratio of 18.40, a PEG ratio of 1.43 and a beta of 1.23.

Textron Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is currently 1.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their target price for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. Citigroup upped their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group upped their price objective on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $102.75.

Textron Company Profile

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.