Textron Beats 4Q Consensus EPS; 2019 Outlook Features Profit Growth, but Shares Look Fairly Valued
No-moat Textron reported fourth-quarter 2018 earnings that beat consensus expectations, which sent shares up. Management's 2019 outlook featured year-over-year profit growth (after excluding the gains on a divestment) but the company guided to basically flat cash flows versus 2018 due to lower progress payments tied to Bell military programs. We're maintaining our $55 fair value estimate; the name looks slightly undervalued at a price/fair value ratio of around 0.95.ÂTextron's revenue in the fo...
Textron is a multi-industry company. The company's segments include: Textron Aviation, which manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets; Bell, which supplies military and commercial helicopters, tiltrotor aircraft, and related spare parts and services; Textron Systems, which includes unmanned systems, marine and land systems, and simulation, training and other; Industrial, which designs and manufactures a variety of products within fuel systems and functional components and specialized vehicles product lines; and Finance, which provides financing to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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