Wall Street brokerages predict that Curtiss-Wright Corp. (NYSE:CW) will post earnings of $1.78 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Curtiss-Wright’s earnings, with estimates ranging from $1.70 to $1.86. Curtiss-Wright reported earnings of $1.80 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 1.1%. The firm is expected to issue its next earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Curtiss-Wright will report full year earnings of $7.13 per share for the current fiscal year, with EPS estimates ranging from $7.10 to $7.15. For the next fiscal year, analysts expect that the firm will post earnings of $7.55 per share, with EPS estimates ranging from $7.25 to $7.80. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Curtiss-Wright.
Curtiss-Wright (NYSE:CW) last issued its earnings results on Wednesday, May 8th. The aerospace company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.16 by $0.14. The company had revenue of $578.30 million during the quarter, compared to analysts’ expectations of $574.76 million. Curtiss-Wright had a net margin of 11.78% and a return on equity of 18.68%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS.
Several analysts have commented on CW shares. ValuEngine upgraded shares of Curtiss-Wright from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Bank of America cut shares of Curtiss-Wright from a “buy” rating to a “neutral” rating and set a $135.00 target price for the company. in a research report on Friday, March 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Curtiss-Wright from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Finally, Robert W. Baird upped their price objective on shares of Curtiss-Wright from $123.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, February 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Curtiss-Wright currently has an average rating of “Buy” and a consensus target price of $134.29.
Shares of Curtiss-Wright stock traded down $0.61 on Friday, hitting $117.29. 964 shares of the company’s stock traded hands, compared to its average volume of 277,952. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.32 and a beta of 1.18. Curtiss-Wright has a one year low of $95.23 and a one year high of $141.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.31 and a current ratio of 2.05.
Curtiss-Wright declared that its board has approved a share buyback program on Wednesday, May 15th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the aerospace company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Wednesday, June 19th. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.15. Curtiss-Wright’s dividend payout ratio is 9.42%.
In other news, VP Glenn E. Tynan sold 5,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $115.00, for a total transaction of $575,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of CW. Executive Wealth Management LLC acquired a new stake in Curtiss-Wright in the 4th quarter valued at about $38,000. Brand Asset Management Group Inc. increased its position in shares of Curtiss-Wright by 49.6% during the first quarter. Brand Asset Management Group Inc. now owns 377 shares of the aerospace company’s stock worth $46,000 after acquiring an additional 125 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Curtiss-Wright by 836.5% during the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock worth $65,000 after acquiring an additional 527 shares in the last quarter. Accurate Investment Solutions Inc. bought a new stake in shares of Curtiss-Wright during the first quarter worth about $68,000. Finally, Riggs Asset Managment Co. Inc. bought a new stake in shares of Curtiss-Wright during the first quarter worth about $69,000. Institutional investors own 76.42% of the company’s stock.
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.
Featured Article: Fiduciary
Get a free copy of the Zacks research report on Curtiss-Wright (CW)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Curtiss-Wright Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Curtiss-Wright and related companies with MarketBeat.com's FREE daily email newsletter.