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Textron (TXT) Stock Moves -0.96%: What You Should Know

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In the latest market close, Textron (TXT - Free Report) reached $93.06, with a -0.96% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 1.2%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 1.79%.

Heading into today, shares of the maker of Cessna small planes and Bell helicopters had gained 1.13% over the past month, outpacing the Aerospace sector's loss of 4.66% and the S&P 500's loss of 0.85% in that time.

The investment community will be closely monitoring the performance of Textron in its forthcoming earnings report. The company is scheduled to release its earnings on April 25, 2024. In that report, analysts expect Textron to post earnings of $1.30 per share. This would mark year-over-year growth of 23.81%. Our most recent consensus estimate is calling for quarterly revenue of $3.38 billion, up 11.66% from the year-ago period.

TXT's full-year Zacks Consensus Estimates are calling for earnings of $6.27 per share and revenue of $14.64 billion. These results would represent year-over-year changes of +12.16% and +6.99%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for Textron. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Textron boasts a Zacks Rank of #2 (Buy).

Investors should also note Textron's current valuation metrics, including its Forward P/E ratio of 14.99. This represents a discount compared to its industry's average Forward P/E of 18.24.

One should further note that TXT currently holds a PEG ratio of 1.48. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Aerospace - Defense industry had an average PEG ratio of 1.83 as trading concluded yesterday.

The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 157, positioning it in the bottom 38% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions.

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