Equities analysts expect that Curtiss-Wright Corp. (NYSE:CW) will post earnings of $1.79 per share for the current quarter, Zacks reports. Four analysts have made estimates for Curtiss-Wright’s earnings, with estimates ranging from $1.70 to $1.92. Curtiss-Wright posted earnings per share of $1.80 in the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The firm is expected to announce its next earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that Curtiss-Wright will report full year earnings of $7.08 per share for the current fiscal year, with EPS estimates ranging from $6.90 to $7.15. For the next fiscal year, analysts forecast that the firm will post earnings of $7.55 per share, with EPS estimates ranging from $7.25 to $7.80. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Curtiss-Wright.
Curtiss-Wright (NYSE:CW) last issued its earnings results on Wednesday, May 8th. The aerospace company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.14. The firm had revenue of $578.30 million during the quarter, compared to analyst estimates of $574.76 million. Curtiss-Wright had a net margin of 11.78% and a return on equity of 18.68%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share.
Shares of NYSE:CW opened at $116.11 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.05 and a quick ratio of 1.31. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24. Curtiss-Wright has a twelve month low of $95.23 and a twelve month high of $141.29.
Curtiss-Wright announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 15th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, June 19th. Curtiss-Wright’s dividend payout ratio is presently 9.42%.
In related news, VP Glenn E. Tynan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $115.00, for a total value of $575,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director S Marce Fuller sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $121.07, for a total transaction of $151,337.50. Following the completion of the sale, the director now directly owns 11,222 shares in the company, valued at $1,358,647.54. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Executive Wealth Management LLC purchased a new stake in Curtiss-Wright in the fourth quarter valued at approximately $38,000. Brand Asset Management Group Inc. raised its stake in Curtiss-Wright by 49.6% in the first quarter. Brand Asset Management Group Inc. now owns 377 shares of the aerospace company’s stock valued at $46,000 after purchasing an additional 125 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Curtiss-Wright by 836.5% in the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock valued at $65,000 after purchasing an additional 527 shares in the last quarter. Accurate Investment Solutions Inc. purchased a new stake in Curtiss-Wright in the first quarter valued at approximately $68,000. Finally, Riggs Asset Managment Co. Inc. purchased a new stake in Curtiss-Wright in the first quarter valued at approximately $69,000. 77.37% of the stock is currently owned by institutional investors and hedge funds.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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