William Blair Comments on Curtiss-Wright Co.’s Q2 2024 Earnings (NYSE:CW)

Curtiss-Wright Co. (NYSE:CW) – Research analysts at William Blair lifted their Q2 2024 earnings per share (EPS) estimates for Curtiss-Wright in a research note issued on Thursday, May 2nd. William Blair analyst L. Dipalma now expects that the aerospace company will post earnings of $2.33 per share for the quarter, up from their previous forecast 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.

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 analysts’ consensus estimates of $1.75 by $0.24. The business had revenue of $713.17 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 earnings per share.

A number of other research firms have also issued reports on CW. Truist Financial boosted their target price on Curtiss-Wright from $240.00 to $252.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Morgan Stanley lifted their price target on Curtiss-Wright from $260.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Stifel Nicolaus lifted their price target on Curtiss-Wright from $255.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird lifted their price target on Curtiss-Wright from $246.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $277.00.

Curtiss-Wright Trading Up 1.1 %

NYSE:CW opened at $276.59 on Monday. The firm has a market cap of $10.59 billion, a P/E ratio of 28.49 and a beta of 1.18. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $250.50 and its 200-day simple moving average is $229.82. Curtiss-Wright has a 12-month low of $157.85 and a 12-month high of $279.79.

Hedge Funds Weigh In On Curtiss-Wright

Several large investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC acquired a new stake in Curtiss-Wright during the fourth quarter worth about $1,894,000. Pacer Advisors Inc. increased its stake in Curtiss-Wright by 92.5% during the fourth quarter. Pacer Advisors Inc. now owns 8,235 shares of the aerospace company’s stock worth $1,835,000 after acquiring an additional 3,957 shares during the last quarter. Cadinha & Co. LLC increased its stake 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 acquiring an additional 63,810 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Curtiss-Wright by 71.8% during 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 increased its stake in Curtiss-Wright by 729.1% during the third quarter. Los Angeles Capital Management LLC now owns 20,428 shares of the aerospace company’s stock worth $3,996,000 after acquiring an additional 17,964 shares during the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Paul J. Ferdenzi sold 2,500 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $250.00, for a total value of $625,000.00. Following the sale, the vice president now directly owns 15,942 shares in the company, valued at $3,985,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Lynn M. Bamford sold 2,620 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $243.60, for a total value of $638,232.00. Following the sale, the chief executive officer now directly owns 35,773 shares in the company, valued at $8,714,302.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul J. Ferdenzi sold 2,500 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $250.00, for a total value of $625,000.00. Following the transaction, the vice president now owns 15,942 shares in the company, valued at $3,985,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,451 shares of company stock worth $3,030,512. 0.55% of the stock is owned by corporate insiders.

Curtiss-Wright Dividend Announcement

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