Curtiss-Wright (NYSE:CW) Posts Earnings Results, Beats Expectations By $0.24 EPS

Curtiss-Wright (NYSE:CW) posted its quarterly earnings data on Wednesday. The aerospace company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.24, Briefing.com reports. The business had revenue of $713.17 million for the quarter, compared to analyst estimates of $664.01 million. Curtiss-Wright had a return on equity of 16.61% and a net margin of 12.46%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. Curtiss-Wright updated its FY24 guidance to $10.10-$10.40 EPS and its FY 2024 guidance to 10.100-10.400 EPS.

Curtiss-Wright Trading Up 2.2 %

NYSE:CW traded up $5.70 during mid-day trading on Thursday, reaching $262.68. The company’s stock had a trading volume of 119,794 shares, compared to its average volume of 186,819. The company’s fifty day simple moving average is $247.91 and its two-hundred day simple moving average is $227.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.13 and a quick ratio of 1.50. Curtiss-Wright has a twelve month low of $157.72 and a twelve month high of $267.42. The stock has a market cap of $10.06 billion, a P/E ratio of 27.93 and a beta of 1.18.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Wednesday, March 27th. Curtiss-Wright’s payout ratio is 8.70%.

Insiders Place Their Bets

In other news, CFO K Christopher Farkas sold 2,736 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $240.16, for a total value of $657,077.76. Following the transaction, the chief financial officer now directly owns 9,172 shares in the company, valued at approximately $2,202,747.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO K Christopher Farkas sold 2,736 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $240.16, for a total value of $657,077.76. Following the transaction, the chief financial officer now directly owns 9,172 shares in the company, valued at approximately $2,202,747.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $250.00, for a total value of $625,000.00. Following the completion of the transaction, the vice president now owns 15,942 shares in the company, valued at $3,985,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,451 shares of company stock valued at $3,030,512. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

CW has been the topic of a number of analyst reports. StockNews.com lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 27th. Stifel Nicolaus increased their price objective on Curtiss-Wright from $255.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. 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 research note on Monday, April 8th. Finally, Truist Financial reaffirmed a “hold” rating and set a $240.00 price objective (down previously from $250.00) on shares of Curtiss-Wright in a research note on Monday, March 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $260.25.

About Curtiss-Wright

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.