Curtiss-Wright (NYSE:CW) Updates FY24 Earnings Guidance

Curtiss-Wright (NYSE:CW) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $10.55-10.75 for the period, compared to the consensus earnings per share estimate of $10.58. The company issued revenue guidance of $3.050-3.095 billion, compared to the consensus revenue estimate of $3.05 billion.

Curtiss-Wright Stock Performance

CW stock traded down $0.25 during trading on Wednesday, reaching $353.74. 320,714 shares of the company’s stock were exchanged, compared to its average volume of 220,926. The company has a quick ratio of 1.42, a current ratio of 2.05 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 $367.55. The company’s fifty day moving average price is $327.28 and its 200-day moving average price is $293.47. The firm has a market cap of $13.55 billion, a PE ratio of 36.46 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last announced its quarterly 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. Curtiss-Wright had a return on equity of 17.07% and a net margin of 13.05%. The company had revenue of $785.00 million during the quarter, compared to analyst estimates of $735.82 million. During the same quarter in the previous year, the firm posted $2.15 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, research analysts expect that Curtiss-Wright will post 10.56 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given 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 yield of 0.24%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 8.65%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CW. Robert W. Baird upped their price objective on Curtiss-Wright from $300.00 to $312.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Alembic Global Advisors began coverage on Curtiss-Wright in a report on Tuesday. They issued an “overweight” rating and a $412.00 price objective for the company. StockNews.com lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Truist Financial upped their price objective on Curtiss-Wright from $270.00 to $304.00 and gave the company a “hold” rating in a report on Friday, October 18th. Finally, Stifel Nicolaus upped their price objective on Curtiss-Wright from $318.00 to $361.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $343.80.

Insider Activity

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

Curtiss-Wright Company Profile

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.