Curtiss-Wright (NYSE:CW) Issues 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.

Curtiss-Wright Trading Down 2.5 %

Shares of CW opened at $344.92 on Friday. Curtiss-Wright has a 12-month low of $196.10 and a 12-month high of $371.04. The company has a quick ratio of 1.42, a current ratio of 2.05 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 32.63 and a beta of 1.18. The stock’s 50-day moving average price is $329.14 and its 200 day moving average price is $294.25.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, August 7th. The aerospace company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.43. The company had revenue of $785.00 million for the quarter, compared to analyst estimates of $735.82 million. Curtiss-Wright had a return on equity of 17.39% and a net margin of 13.20%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.15 EPS. As a group, research analysts predict that Curtiss-Wright will post 10.58 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, September 27th. Curtiss-Wright’s payout ratio is currently 7.95%.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Glenda J. Minor sold 500 shares of the stock in a transaction on 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 $418,469.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by company 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.