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

Curtiss-Wright (NYSE:CW) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 10.550-10.750 for the period, compared to the consensus EPS estimate of 10.620. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.0 billion. Curtiss-Wright also updated its FY24 guidance to $10.55-10.75 EPS.

Curtiss-Wright Price Performance

CW stock opened at $344.92 on Friday. The stock has a 50-day moving average price of $329.14 and a two-hundred day moving average price of $294.25. The stock has a market cap of $13.21 billion, a PE ratio of 32.63 and a beta of 1.18. The company has a current ratio of 2.05, a quick ratio of 1.42 and a debt-to-equity ratio of 0.39. Curtiss-Wright has a 1 year low of $196.10 and a 1 year high of $371.04.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, August 7th. The aerospace company reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.43. The firm had revenue of $785.00 million during the quarter, compared to analysts’ expectations of $735.82 million. Curtiss-Wright had a return on equity of 17.39% and a net margin of 13.20%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.15 EPS. Equities analysts forecast that Curtiss-Wright will post 10.58 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.24%. Curtiss-Wright’s dividend payout ratio is 7.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CW shares. StockNews.com downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Stifel Nicolaus increased their price objective on shares of Curtiss-Wright from $318.00 to $361.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Alembic Global Advisors started coverage on shares of Curtiss-Wright in a research note on Tuesday. They set an “overweight” rating and a $412.00 price objective for the company. Truist Financial increased their price objective on shares of Curtiss-Wright from $270.00 to $304.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Robert W. Baird raised their target price on shares of Curtiss-Wright from $300.00 to $312.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Curtiss-Wright presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.80.

Insider Activity at Curtiss-Wright

In related news, Director Glenda J. Minor sold 500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $302.80, for a total value of $151,400.00. Following the completion of the sale, the director now directly owns 1,382 shares in the company, valued at approximately $418,469.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.67% of the stock is currently owned by company insiders.

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.