Analysts predict that Curtiss-Wright Corp. (NYSE:CW) will announce $640.79 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Curtiss-Wright’s earnings, with the lowest sales estimate coming in at $636.00 million and the highest estimate coming in at $651.00 million. Curtiss-Wright reported sales of $620.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, July 31st.
According to Zacks, analysts expect that Curtiss-Wright will report full year sales of $2.53 billion for the current financial year, with estimates ranging from $2.52 billion to $2.55 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.65 billion, with estimates ranging from $2.61 billion to $2.68 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Curtiss-Wright.
Curtiss-Wright (NYSE:CW) last announced its earnings results on Wednesday, May 8th. The aerospace company reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.14. The company had revenue of $578.30 million during the quarter, compared to the consensus estimate of $574.76 million. Curtiss-Wright had a net margin of 11.78% and a return on equity of 18.68%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share.
CW has been the subject of several analyst reports. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Zacks Investment Research downgraded shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $135.17.
Shares of CW stock traded up $1.96 on Friday, hitting $127.12. The stock had a trading volume of 309,922 shares, compared to its average volume of 293,463. The company’s 50 day moving average is $119.79. The company has a market cap of $5.39 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.31 and a current ratio of 2.05. Curtiss-Wright has a 12-month low of $95.23 and a 12-month high of $141.29.
The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Thursday, June 20th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 19th. This represents a $0.68 annualized dividend and a yield of 0.53%. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.15. Curtiss-Wright’s dividend payout ratio is presently 10.68%.
Curtiss-Wright declared that its board has authorized a stock buyback plan on Wednesday, May 15th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, VP Glenn E. Tynan sold 5,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $115.00, for a total transaction of $575,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its position in Curtiss-Wright by 0.8% during the first quarter. US Bancorp DE now owns 12,401 shares of the aerospace company’s stock worth $1,407,000 after purchasing an additional 104 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Curtiss-Wright by 0.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 17,517 shares of the aerospace company’s stock worth $1,985,000 after purchasing an additional 109 shares during the period. Campbell Newman Asset Management Inc. boosted its position in Curtiss-Wright by 2.4% during the first quarter. Campbell Newman Asset Management Inc. now owns 5,321 shares of the aerospace company’s stock worth $603,000 after purchasing an additional 124 shares during the period. Brand Asset Management Group Inc. boosted its position in Curtiss-Wright by 49.6% during the first quarter. Brand Asset Management Group Inc. now owns 377 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 125 shares during the period. Finally, Private Trust Co. NA boosted its position in Curtiss-Wright by 3.2% during the second quarter. Private Trust Co. NA now owns 4,548 shares of the aerospace company’s stock worth $578,000 after purchasing an additional 142 shares during the period. Institutional investors own 76.42% of the company’s stock.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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