Equities analysts predict that Curtiss-Wright Corp. (NYSE:CW) will announce earnings of $1.20 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Curtiss-Wright’s earnings, with the lowest EPS estimate coming in at $1.10 and the highest estimate coming in at $1.37. Curtiss-Wright posted earnings of $0.98 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.4%. The firm is expected to issue its next quarterly earnings report on Wednesday, May 1st.
According to Zacks, analysts expect that Curtiss-Wright will report full year earnings of $6.88 per share for the current fiscal year, with EPS estimates ranging from $6.67 to $7.00. For the next year, analysts anticipate that the business will post earnings of $7.45 per share, with EPS estimates ranging from $7.18 to $7.75. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Curtiss-Wright.
Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Tuesday, February 26th. The aerospace company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $648.62 million during the quarter, compared to analyst estimates of $688.52 million. Curtiss-Wright had a return on equity of 17.91% and a net margin of 11.43%. Curtiss-Wright’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS.
Several research firms have recently commented on CW. Zacks Investment Research lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Stifel Nicolaus upgraded Curtiss-Wright from a “hold” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $122.00 in a research note on Wednesday, December 19th. ValuEngine upgraded Curtiss-Wright from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Robert W. Baird increased their price target on Curtiss-Wright from $123.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $132.14.
In other Curtiss-Wright news, CEO David Charles Adams sold 7,000 shares of the stock in a transaction on Friday, January 18th. The stock was sold at an average price of $111.00, for a total value of $777,000.00. Following the completion of the sale, the chief executive officer now owns 75,164 shares in the company, valued at approximately $8,343,204. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director S Marce Fuller sold 1,250 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $121.07, for a total value of $151,337.50. Following the completion of the sale, the director now owns 11,222 shares of the company’s stock, valued at approximately $1,358,647.54. The disclosure for this sale can be found here. Insiders sold a total of 30,681 shares of company stock valued at $3,542,880 in the last quarter. 0.87% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Utah Retirement Systems boosted its holdings in shares of Curtiss-Wright by 1.2% during the 4th quarter. Utah Retirement Systems now owns 8,200 shares of the aerospace company’s stock valued at $837,000 after purchasing an additional 100 shares during the last quarter. Cardinal Capital Management boosted its holdings in shares of Curtiss-Wright by 1.8% during the 4th quarter. Cardinal Capital Management now owns 8,787 shares of the aerospace company’s stock valued at $897,000 after purchasing an additional 156 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Curtiss-Wright by 7.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,805 shares of the aerospace company’s stock valued at $286,000 after purchasing an additional 183 shares during the last quarter. Virginia Retirement Systems ET AL boosted its holdings in shares of Curtiss-Wright by 2.7% during the 4th quarter. Virginia Retirement Systems ET AL now owns 7,500 shares of the aerospace company’s stock valued at $766,000 after purchasing an additional 200 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Curtiss-Wright by 0.6% during the 4th quarter. Arizona State Retirement System now owns 31,430 shares of the aerospace company’s stock valued at $3,210,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.
Shares of NYSE:CW traded down $2.38 during midday trading on Friday, hitting $112.25. The company had a trading volume of 851,552 shares, compared to its average volume of 272,891. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.96 and a quick ratio of 1.34. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.36 and a beta of 1.28. Curtiss-Wright has a 12-month low of $95.23 and a 12-month high of $143.38.
Curtiss-Wright announced that its Board of Directors has initiated a share buyback program on Wednesday, December 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the aerospace company to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. Curtiss-Wright’s payout ratio is presently 9.42%.
Curtiss-Wright Company Profile
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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