Q2 2024 Earnings Forecast for Curtiss-Wright Co. Issued By William Blair (NYSE:CW)

Curtiss-Wright Co. (NYSE:CW) – Stock analysts at William Blair upped their Q2 2024 earnings estimates for shares of Curtiss-Wright in a research note issued to investors on Thursday, May 2nd. William Blair analyst L. Dipalma now expects that the aerospace company will post earnings per share of $2.33 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.

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

Curtiss-Wright Stock Up 2.0 %

NYSE:CW opened at $268.17 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.02 and a quick ratio of 1.50. The company’s fifty day moving average price is $248.98 and its 200-day moving average price is $228.63. Curtiss-Wright has a 1-year low of $157.72 and a 1-year high of $269.00. The firm has a market capitalization of $10.27 billion, a P/E ratio of 27.62 and a beta of 1.18.

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

Hedge Funds Weigh In On Curtiss-Wright

Institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC purchased a new position in shares of Curtiss-Wright in the 4th quarter valued at about $1,894,000. Pacer Advisors Inc. grew its holdings in Curtiss-Wright by 92.5% during the 4th quarter. Pacer Advisors Inc. now owns 8,235 shares of the aerospace company’s stock valued at $1,835,000 after buying an additional 3,957 shares during the last quarter. Cadinha & Co. LLC increased its position in Curtiss-Wright by 1,101.1% during the fourth quarter. Cadinha & Co. LLC now owns 69,605 shares of the aerospace company’s stock worth $15,507,000 after buying an additional 63,810 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Curtiss-Wright by 71.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,994 shares of the aerospace company’s stock worth $1,558,000 after acquiring an additional 2,924 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Curtiss-Wright by 729.1% in the third quarter. Los Angeles Capital Management LLC now owns 20,428 shares of the aerospace company’s stock valued at $3,996,000 after acquiring an additional 17,964 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Insider Buying and Selling at Curtiss-Wright

In related news, VP Paul J. Ferdenzi sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $240.00, for a total value of $600,000.00. Following the completion of the transaction, the vice president now directly owns 17,383 shares of the company’s stock, valued at $4,171,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Curtiss-Wright news, COO Kevin Rayment sold 1,070 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $243.50, for a total transaction of $260,545.00. Following the transaction, the chief operating officer now owns 28,329 shares of the company’s stock, valued at $6,898,111.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul J. Ferdenzi sold 2,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $240.00, for a total value of $600,000.00. Following the completion of the sale, the vice president now directly owns 17,383 shares of the company’s stock, valued at $4,171,920. The disclosure for this sale can be found here. Insiders have sold a total of 12,451 shares of company stock worth $3,030,512 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.

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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.30%. The ex-dividend date was Wednesday, March 27th. Curtiss-Wright’s dividend payout ratio (DPR) is presently 8.24%.

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.