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

Curtiss-Wright (NYSE:CW) 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.

Curtiss-Wright Trading Down 1.7 %

CW opened at $280.37 on Thursday. 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 firm’s 50 day moving average is $258.89 and its 200-day moving average is $235.62. The firm has a market capitalization of $10.74 billion, a P/E ratio of 28.87 and a beta of 1.18. Curtiss-Wright has a 52-week low of $157.85 and a 52-week high of $286.23.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.24. Curtiss-Wright had a net margin of 12.78% and a return on equity of 16.79%. The firm had revenue of $713.17 million during the quarter, compared to analyst estimates of $664.01 million. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts expect that Curtiss-Wright will post 10.31 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, CFO K Christopher Farkas sold 2,736 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $240.16, for a total transaction of $657,077.76. Following the completion of the sale, the chief financial officer now owns 9,172 shares of the company’s stock, valued at $2,202,747.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Curtiss-Wright news, VP Paul J. Ferdenzi sold 2,500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $240.00, for a total transaction of $600,000.00. Following the completion of the transaction, the vice president now directly owns 17,383 shares in the company, valued at $4,171,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO K Christopher Farkas sold 2,736 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $240.16, for a total value of $657,077.76. Following the transaction, the chief financial officer now owns 9,172 shares of the company’s stock, valued at $2,202,747.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,451 shares of company stock valued at $3,030,512. 0.67% of the stock is owned by corporate insiders.

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.