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

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CW. StockNews.com cut shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Alembic Global Advisors assumed coverage on Curtiss-Wright in a report on Tuesday. They set an “overweight” rating and a $412.00 price target on the stock. Stifel Nicolaus boosted their price objective on Curtiss-Wright from $318.00 to $361.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird lifted their target price on Curtiss-Wright from $300.00 to $312.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Truist Financial increased their price target on Curtiss-Wright from $304.00 to $333.00 and gave the stock a “hold” rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Curtiss-Wright has an average rating of “Moderate Buy” and an average price target of $349.60.

Curtiss-Wright Price Performance

NYSE CW traded up $3.86 on Friday, reaching $348.82. 211,457 shares of the stock traded hands, compared to its average volume of 221,654. Curtiss-Wright has a 12 month low of $198.45 and a 12 month high of $371.04. The company has a market cap of $13.36 billion, a price-to-earnings ratio of 33.01 and a beta of 1.18. The firm’s fifty day simple moving average is $329.92 and its 200 day simple moving average is $294.96. 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 (NYSE:CW) last issued its quarterly earnings results on Wednesday, August 7th. The aerospace company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.24 by $0.43. Curtiss-Wright had a net margin of 13.20% and a return on equity of 17.39%. The firm had revenue of $785.00 million for the quarter, compared to analysts’ expectations of $735.82 million. During the same period in the previous year, the business earned $2.15 earnings per share. Curtiss-Wright’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts predict that Curtiss-Wright will post 10.58 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

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 $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 0.24%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.95%.

Insider Buying and Selling at Curtiss-Wright

In related news, Director Glenda J. Minor sold 500 shares of Curtiss-Wright stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $302.80, for a total value of $151,400.00. Following the transaction, the director now owns 1,382 shares of the company’s stock, valued at approximately $418,469.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by corporate 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.