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

Curtiss-Wright (NYSE:CW) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 10.550-10.750 for the period, compared to the consensus 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 Stock Down 0.1 %

Shares of CW opened at $353.70 on Thursday. The stock has a 50 day moving average price of $328.33 and a 200 day moving average price of $293.89. Curtiss-Wright has a one year low of $196.10 and a one year high of $367.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.42 and a current ratio of 2.05. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of 36.43 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Wednesday, August 7th. The aerospace company reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.43. The business had revenue of $785.00 million during the quarter, compared to analysts’ expectations of $735.82 million. Curtiss-Wright had a net margin of 13.05% and a return on equity of 17.07%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.15 earnings per share. Equities research analysts forecast that Curtiss-Wright will post 10.56 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Friday, September 27th. Curtiss-Wright’s dividend payout ratio is currently 8.65%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CW shares. Robert W. Baird lifted their price objective on Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Truist Financial lifted their price target on Curtiss-Wright from $270.00 to $304.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Alembic Global Advisors started coverage on shares of Curtiss-Wright in a research report on Tuesday. They set an “overweight” rating and a $412.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $318.00 to $361.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $343.80.

Insider Transactions at Curtiss-Wright

In related news, Director Glenda J. Minor sold 500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $302.80, for a total value of $151,400.00. Following the sale, the director now directly owns 1,382 shares in the company, valued at approximately $418,469.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

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.