Jefferies Group Comments on Textron Inc.’s Q1 2018 Earnings (TXT)
Textron Inc. (NYSE:TXT) – Stock analysts at Jefferies Group cut their Q1 2018 earnings per share estimates for Textron in a report released on Friday. Jefferies Group analyst S. Kahyaoglu now forecasts that the aerospace company will post earnings of $0.46 per share for the quarter, down from their prior estimate of $0.54. Jefferies Group currently has a “Buy” rating and a $74.00 target price on the stock. Jefferies Group also issued estimates for Textron’s Q3 2018 earnings at $0.78 EPS and Q4 2018 earnings at $1.07 EPS.
Other analysts have also issued reports about the company. Cowen reaffirmed a “buy” rating and set a $60.00 target price on shares of Textron in a report on Tuesday, November 14th. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Morgan Stanley raised Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 price objective on the stock in a report on Thursday, February 1st. Zacks Investment Research raised Textron from a “sell” rating to a “hold” rating in a report on Friday, January 12th. Finally, Stephens set a $65.00 price objective on Textron and gave the company a “hold” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $60.50.
Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 31st. The aerospace company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.06 billion. Textron had a return on equity of 11.20% and a net margin of 3.98%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.80 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of TXT. Janus Henderson Group PLC grew its holdings in Textron by 188.6% in the second quarter. Janus Henderson Group PLC now owns 23,398 shares of the aerospace company’s stock valued at $1,102,000 after purchasing an additional 15,291 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Textron by 20.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,472 shares of the aerospace company’s stock valued at $1,058,000 after acquiring an additional 3,776 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Textron by 1.0% in the third quarter. First Trust Advisors LP now owns 904,301 shares of the aerospace company’s stock valued at $48,724,000 after acquiring an additional 9,022 shares in the last quarter. New England Research & Management Inc. purchased a new position in shares of Textron in the third quarter valued at approximately $299,000. Finally, Aperio Group LLC lifted its position in shares of Textron by 7.9% in the third quarter. Aperio Group LLC now owns 112,085 shares of the aerospace company’s stock valued at $6,039,000 after acquiring an additional 8,173 shares in the last quarter. 83.90% of the stock is currently owned by institutional investors.
Textron Company Profile
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.