Equities analysts expect that Curtiss-Wright Corp. (NYSE:CW) will post $580.25 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Curtiss-Wright’s earnings, with the lowest sales estimate coming in at $568.76 million and the highest estimate coming in at $590.00 million. Curtiss-Wright posted sales of $547.52 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 8th.
According to Zacks, analysts expect that Curtiss-Wright will report full-year sales of $2.55 billion for the current year, with estimates ranging from $2.51 billion to $2.63 billion. For the next year, analysts anticipate that the firm will post sales of $2.66 billion, with estimates ranging from $2.61 billion to $2.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Curtiss-Wright.
Curtiss-Wright (NYSE:CW) last announced its earnings results on Tuesday, February 26th. The aerospace company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $648.62 million for the quarter, compared to the consensus estimate of $688.52 million. Curtiss-Wright had a net margin of 11.43% and a return on equity of 17.91%. Curtiss-Wright’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share.
In other Curtiss-Wright news, CEO David Charles Adams sold 7,000 shares of the stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $111.00, for a total transaction of $777,000.00. Following the transaction, the chief executive officer now directly owns 75,164 shares in the company, valued at $8,343,204. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Jakubowitz sold 684 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $115.03, for a total transaction of $78,680.52. Following the transaction, the vice president now owns 21,137 shares in the company, valued at $2,431,389.11. The disclosure for this sale can be found here. Insiders sold 30,681 shares of company stock worth $3,542,880 over the last ninety days. 0.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Executive Wealth Management LLC bought a new position in Curtiss-Wright during the fourth quarter valued at approximately $38,000. Accurate Investment Solutions Inc. bought a new position in Curtiss-Wright during the first quarter valued at approximately $68,000. FMR LLC bought a new position in Curtiss-Wright during the third quarter valued at approximately $103,000. First Republic Investment Management Inc. bought a new position in Curtiss-Wright during the third quarter valued at approximately $205,000. Finally, Burney Co. grew its position in Curtiss-Wright by 14.6% during the fourth quarter. Burney Co. now owns 2,040 shares of the aerospace company’s stock valued at $208,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.
CW traded up $1.69 on Thursday, reaching $111.85. The company had a trading volume of 567,600 shares, compared to its average volume of 309,746. The company has a market capitalization of $4.72 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.96 and a quick ratio of 1.34. Curtiss-Wright has a 52-week low of $95.23 and a 52-week high of $143.38.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 28th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, March 27th. Curtiss-Wright’s dividend payout ratio is currently 9.42%.
Curtiss-Wright announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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