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

Curtiss-Wright (NYSE:CWGet Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $10.10-$10.40 for the period, compared to the consensus earnings per share estimate of $10.34. The company issued revenue guidance of $2.985-$3.035 billion, compared to the consensus revenue estimate of $3.03 billion.

Wall Street Analyst Weigh In

CW has been the topic of a number of research reports. StockNews.com upgraded Curtiss-Wright from a buy rating to a strong-buy rating in a research note on Sunday, May 5th. Morgan Stanley lifted their target price on Curtiss-Wright from $260.00 to $284.00 and gave the company an overweight rating in a research report on Friday, May 3rd. Stifel Nicolaus lifted their target price on Curtiss-Wright from $293.00 to $310.00 and gave the company a buy rating in a research report on Wednesday. Truist Financial lifted their target price on Curtiss-Wright from $252.00 to $270.00 and gave the company a hold rating in a research report on Wednesday. Finally, Robert W. Baird lifted their target price on Curtiss-Wright from $246.00 to $300.00 and gave the company an outperform rating in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Curtiss-Wright currently has a consensus rating of Buy and a consensus target price of $291.00.

View Our Latest Report on Curtiss-Wright

Curtiss-Wright Price Performance

NYSE:CW opened at $280.37 on Thursday. Curtiss-Wright has a 52 week low of $157.85 and a 52 week high of $286.23. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $258.89 and its two-hundred day simple moving average is $235.62. The stock has a market cap of $10.74 billion, a PE ratio of 28.87 and a beta of 1.18.

Curtiss-Wright (NYSE:CWGet Free Report) last issued its earnings results on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.24. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. The firm had revenue of $713.17 million for the quarter, compared to analysts’ expectations of $664.01 million. During the same period in the previous year, the firm posted $1.53 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. As a group, analysts forecast that Curtiss-Wright will post 10.31 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.30%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 17th. Curtiss-Wright’s payout ratio is 8.24%.

Insiders Place Their Bets

In other Curtiss-Wright news, CFO K Christopher Farkas sold 925 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $243.55, for a total transaction of $225,283.75. Following the sale, the chief financial officer now directly owns 10,052 shares of the company’s stock, valued at $2,448,164.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,620 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $243.60, for a total transaction of $638,232.00. Following the completion of the transaction, the chief executive officer now owns 35,773 shares in the company, valued at $8,714,302.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO K Christopher Farkas sold 925 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $243.55, for a total value of $225,283.75. Following the transaction, the chief financial officer now owns 10,052 shares of the company’s stock, valued at approximately $2,448,164.60. The disclosure for this sale can be found here. Insiders have sold 12,451 shares of company stock valued at $3,030,512 over the last ninety days. 0.67% of the stock is owned by insiders.

Curtiss-Wright Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Curtiss-Wright (NYSE:CW)

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