Curtiss-Wright (NYSE:CW) Updates FY 2024 Earnings Guidance

Curtiss-Wright (NYSE:CWGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 10.100-10.400 for the period, compared to the consensus earnings per share estimate of 10.340. The company issued revenue guidance of $3.0 billion-$3.0 billion, compared to the consensus revenue estimate of $3.0 billion.

Curtiss-Wright Trading Down 0.8 %

Shares of CW stock opened at $276.38 on Friday. The stock’s fifty day simple moving average is $269.12 and its 200 day simple moving average is $244.85. Curtiss-Wright has a twelve month low of $171.30 and a twelve month high of $286.65. The firm has a market capitalization of $10.59 billion, a P/E ratio of 28.46 and a beta of 1.22. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 0.40.

Curtiss-Wright (NYSE:CWGet Free Report) last announced its earnings results on Wednesday, May 1st. The aerospace company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.75 by $0.24. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. The company had revenue of $713.17 million for the quarter, compared to analyst estimates of $664.01 million. During the same quarter in the prior year, the company earned $1.53 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts predict that Curtiss-Wright will post 10.27 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 17th. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.30%. Curtiss-Wright’s dividend payout ratio is 8.65%.

Analyst Ratings Changes

Several equities analysts have weighed in on CW shares. Robert W. Baird increased their price objective on Curtiss-Wright from $246.00 to $300.00 and gave the company an outperform rating in a report on Monday, April 8th. Stifel Nicolaus lifted their price objective on Curtiss-Wright from $293.00 to $310.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Morgan Stanley lifted their price objective on Curtiss-Wright from $284.00 to $330.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. StockNews.com upgraded Curtiss-Wright from a buy rating to a strong-buy rating in a report on Sunday, May 5th. Finally, Truist Financial lifted their price objective on Curtiss-Wright from $252.00 to $270.00 and gave the stock a hold rating in a report on Wednesday, May 22nd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Curtiss-Wright has an average rating of Buy and a consensus price target of $302.50.

Read Our Latest Analysis on Curtiss-Wright

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, COO Kevin Rayment sold 8,415 shares of Curtiss-Wright stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the sale, the chief operating officer now directly owns 19,914 shares of the company’s stock, valued at approximately $5,609,176.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director S Marce Fuller sold 5,300 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $281.04, for a total value of $1,489,512.00. Following the completion of the transaction, the director now directly owns 25,770 shares in the company, valued at approximately $7,242,400.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kevin Rayment sold 8,415 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the completion of the transaction, the chief operating officer now owns 19,914 shares of the company’s stock, valued at $5,609,176.38. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Curtiss-Wright Company Profile

(Get Free Report)

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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Earnings History and Estimates for Curtiss-Wright (NYSE:CW)

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