Curtiss-Wright Corporation (NYSE:CW) announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.21, Briefing.com reports. The business had revenue of $567.90 million during the quarter, compared to analyst estimates of $539.28 million. Curtiss-Wright Corporation had a return on equity of 15.60% and a net margin of 9.70%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS.
Shares of Curtiss-Wright Corporation (NYSE CW) traded down $1.08 on Friday, hitting $118.23. The stock had a trading volume of 183,100 shares, compared to its average volume of 247,406. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 0.55. Curtiss-Wright Corporation has a twelve month low of $82.77 and a twelve month high of $120.54. The firm has a market capitalization of $5,265.52, a price-to-earnings ratio of 24.96, a PEG ratio of 2.03 and a beta of 1.25.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, October 6th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. This is a positive change from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. Curtiss-Wright Corporation’s payout ratio is currently 12.45%.
In other news, VP Paul J. Ferdenzi sold 6,907 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $106.18, for a total transaction of $733,385.26. Following the transaction, the vice president now owns 19,467 shares of the company’s stock, valued at $2,067,006.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Charles Adams sold 17,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $119.04, for a total value of $2,023,680.00. Following the completion of the transaction, the chief executive officer now directly owns 70,570 shares in the company, valued at approximately $8,400,652.80. The disclosure for this sale can be found here. Insiders have sold 40,865 shares of company stock worth $4,708,944 in the last ninety days. 1.10% of the stock is currently owned by insiders.
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Several brokerages have commented on CW. Zacks Investment Research downgraded Curtiss-Wright Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Stifel Nicolaus began coverage on Curtiss-Wright Corporation in a research report on Monday, September 18th. They issued a “hold” rating and a $100.00 price target on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $125.00 price target on shares of Curtiss-Wright Corporation in a research report on Friday, October 6th. Finally, Seaport Global Securities restated a “buy” rating on shares of Curtiss-Wright Corporation in a research report on Friday, October 27th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $126.67.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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