Curtiss-Wright (NYSE:CW) Announces Earnings Results, Beats Expectations By $0.24 EPS

Curtiss-Wright (NYSE:CW) released its quarterly earnings results on Wednesday. The aerospace company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.24, Briefing.com reports. Curtiss-Wright had a return on equity of 16.61% and a net margin of 12.46%. The firm had revenue of $713.17 million during the quarter, compared to analysts’ expectations of $664.01 million. During the same period last year, the firm posted $1.53 EPS. The business’s revenue was up 13.0% on a year-over-year basis. Curtiss-Wright updated its FY24 guidance to $10.10-$10.40 EPS and its FY 2024 guidance to 10.100-10.400 EPS.

Curtiss-Wright Trading Up 2.2 %

Shares of NYSE:CW traded up $5.70 during midday trading on Thursday, hitting $262.68. The company had a trading volume of 119,794 shares, compared to its average volume of 186,819. The firm has a fifty day simple moving average of $247.91 and a 200 day simple moving average of $227.81. The company has a current ratio of 2.13, a quick ratio of 1.50 and a debt-to-equity ratio of 0.45. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 27.93 and a beta of 1.18. Curtiss-Wright has a 12 month low of $157.72 and a 12 month high of $267.42.

Curtiss-Wright Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.30%. Curtiss-Wright’s dividend payout ratio is currently 8.70%.

Analyst Ratings Changes

Several research firms have recently commented on CW. 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 note on Monday, April 8th. StockNews.com cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 27th. Truist Financial reissued a “hold” rating and issued a $240.00 target price (down from $250.00) on shares of Curtiss-Wright in a research note on Monday, March 25th. Finally, Stifel Nicolaus lifted their target price on Curtiss-Wright from $255.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $260.25.

Insiders Place Their Bets

In other Curtiss-Wright news, VP Paul J. Ferdenzi sold 2,500 shares of Curtiss-Wright stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $250.00, for a total transaction of $625,000.00. Following the transaction, the vice president now directly owns 15,942 shares in the company, valued at $3,985,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Curtiss-Wright news, VP Paul J. Ferdenzi sold 2,500 shares of Curtiss-Wright stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $250.00, for a total transaction of $625,000.00. Following the transaction, the vice president now directly owns 15,942 shares in the company, valued at $3,985,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lynn M. Bamford sold 2,620 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $243.60, for a total value of $638,232.00. Following the completion of the sale, the chief executive officer now owns 35,773 shares in the company, valued at $8,714,302.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,451 shares of company stock worth $3,030,512. Corporate insiders own 0.67% of the company’s stock.

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.