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

Curtiss-Wright (NYSE:CW) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 10.550-10.750 for the period, compared to the consensus earnings per share 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

Shares of CW stock traded down $0.29 during trading hours on Wednesday, reaching $353.70. The stock had a trading volume of 320,714 shares, compared to its average volume of 220,926. The stock’s fifty day simple moving average is $328.33 and its 200 day simple moving average is $293.89. The firm has a market capitalization of $13.55 billion, a PE ratio of 36.43 and a beta of 1.18. Curtiss-Wright has a 12 month low of $196.10 and a 12 month high of $367.55. 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 (NYSE:CW) last released its quarterly earnings results on Wednesday, August 7th. The aerospace company reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.43. The firm had revenue of $785.00 million during the quarter, compared to analyst estimates of $735.82 million. Curtiss-Wright had a net margin of 13.05% and a return on equity of 17.07%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.15 EPS. On average, equities research analysts predict that Curtiss-Wright will post 10.56 EPS for the current year.

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Friday, September 27th. Curtiss-Wright’s payout ratio is 8.65%.

Wall Street Analyst Weigh In

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

Insider Transactions at Curtiss-Wright

In other news, Director Glenda J. Minor sold 500 shares of the stock in a transaction that occurred 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 owns 1,382 shares of the company’s stock, valued at approximately $418,469.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

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.