William Blair Brokers Increase Earnings Estimates for Curtiss-Wright Co. (NYSE:CW)

Curtiss-Wright Co. (NYSE:CW) – Equities researchers at William Blair raised their Q2 2024 earnings per share estimates for shares of Curtiss-Wright in a research report issued on Thursday, May 2nd. William Blair analyst L. Dipalma now forecasts that the aerospace company will post earnings of $2.33 per share for the quarter, up from their prior estimate of $2.32. The consensus estimate for Curtiss-Wright’s current full-year earnings is $10.27 per share. William Blair also issued estimates for Curtiss-Wright’s Q3 2024 earnings at $2.69 EPS, Q4 2024 earnings at $3.31 EPS, FY2024 earnings at $10.32 EPS and FY2025 earnings at $10.91 EPS.

Several other research firms also recently weighed in on CW. Robert W. Baird boosted their target price on Curtiss-Wright from $246.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley boosted their target price on Curtiss-Wright from $260.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. StockNews.com raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Stifel Nicolaus boosted their target price on Curtiss-Wright from $255.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Truist Financial upped their price objective on Curtiss-Wright from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $277.00.

Curtiss-Wright Stock Up 1.1 %

Shares of CW opened at $276.59 on Monday. The stock has a market capitalization of $10.59 billion, a price-to-earnings ratio of 28.49 and a beta of 1.18. Curtiss-Wright has a 1 year low of $157.85 and a 1 year high of $279.79. The business’s 50 day simple moving average is $250.50 and its 200-day simple moving average is $229.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.02 and a quick ratio of 1.38.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.24. The business had revenue of $713.17 million for the quarter, compared to analysts’ expectations of $664.01 million. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.53 EPS.

Hedge Funds Weigh In On Curtiss-Wright

Institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its position in Curtiss-Wright by 13.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,716 shares of the aerospace company’s stock worth $3,075,000 after purchasing an additional 1,836 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Curtiss-Wright by 10.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,158 shares of the aerospace company’s stock worth $1,205,000 after purchasing an additional 566 shares in the last quarter. Raymond James & Associates boosted its position in Curtiss-Wright by 14.6% in the 3rd quarter. Raymond James & Associates now owns 44,434 shares of the aerospace company’s stock worth $8,693,000 after purchasing an additional 5,669 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Curtiss-Wright by 0.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,411 shares of the aerospace company’s stock worth $1,450,000 after purchasing an additional 59 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Curtiss-Wright by 18.1% in the 3rd quarter. Mackenzie Financial Corp now owns 2,706 shares of the aerospace company’s stock worth $522,000 after purchasing an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Insiders Place Their Bets

In other Curtiss-Wright news, CFO K Christopher Farkas sold 2,736 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $240.16, for a total transaction of $657,077.76. Following the sale, the chief financial officer now owns 9,172 shares of the company’s stock, valued at approximately $2,202,747.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Curtiss-Wright news, CFO K Christopher Farkas sold 2,736 shares of Curtiss-Wright stock in a transaction dated 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 approximately $2,202,747.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lynn M. Bamford sold 2,620 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $243.60, for a total value of $638,232.00. Following the completion of the transaction, the chief executive officer now directly owns 35,773 shares in the company, valued at $8,714,302.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,451 shares of company stock valued at $3,030,512. 0.55% of the stock is currently owned by corporate insiders.

Curtiss-Wright Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, March 27th. Curtiss-Wright’s dividend payout ratio is currently 8.24%.

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.