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

Curtiss-Wright (NYSE:CW) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 10.400-10.650 for the period, compared to the consensus estimate of 10.330. The company issued revenue guidance of $3.0 billion-$3.1 billion, compared to the consensus revenue estimate of $3.0 billion.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $291.33 on Monday. Curtiss-Wright has a 12 month low of $190.64 and a 12 month high of $297.53. 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 company has a market cap of $11.16 billion, a P/E ratio of 30.00 and a beta of 1.18. The firm has a fifty day moving average price of $276.75 and a 200 day moving average price of $259.90.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $735.82 million. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.15 EPS. Sell-side analysts predict that Curtiss-Wright will post 10.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CW shares. Truist Financial boosted their price objective on Curtiss-Wright from $252.00 to $270.00 and gave the company a hold rating in a research note on Wednesday, May 22nd. Morgan Stanley upped their target price on shares of Curtiss-Wright from $284.00 to $330.00 and gave the company an overweight rating in a report on Thursday, May 23rd. Stifel Nicolaus boosted their price target on Curtiss-Wright from $310.00 to $318.00 and gave the company a buy rating in a research report on Thursday, July 18th. StockNews.com raised Curtiss-Wright from a buy rating to a strong-buy rating in a research note on Thursday. Finally, Robert W. Baird boosted their target price on Curtiss-Wright from $300.00 to $312.00 and gave the company an outperform rating in a report on Friday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Curtiss-Wright presently has an average rating of Buy and an average price target of $307.50.

Insiders Place Their Bets

In related news, COO Kevin Rayment sold 8,415 shares of Curtiss-Wright stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $281.67, for a total value of $2,370,253.05. Following the sale, the chief operating officer now directly owns 19,914 shares in the company, valued at $5,609,176.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Kevin Rayment sold 8,415 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the sale, the chief operating officer now owns 19,914 shares of the company’s stock, valued at $5,609,176.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director S Marce Fuller sold 5,300 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $281.04, for a total transaction of $1,489,512.00. Following the completion of the transaction, the director now directly owns 25,770 shares of the company’s stock, valued at $7,242,400.80. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 120 shares of company stock worth $27,914. 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.