Curtiss-Wright (NYSE:CW) Announces Earnings Results, Beats Estimates By $0.43 EPS

Curtiss-Wright (NYSE:CW) issued its quarterly earnings data on Wednesday. The aerospace company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.24 by $0.43, Briefing.com reports. The company had revenue of $785.00 million for the quarter, compared to analyst estimates of $735.82 million. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. Curtiss-Wright’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $2.15 earnings per share. Curtiss-Wright updated its FY24 guidance to $10.40-10.65 EPS.

Curtiss-Wright Trading Up 1.6 %

Shares of CW traded up $4.67 during midday trading on Friday, reaching $291.33. The company had a trading volume of 399,361 shares, compared to its average volume of 209,979. The firm has a 50 day simple moving average of $276.75 and a 200-day simple moving average of $259.41. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 0.40. The stock has a market cap of $11.16 billion, a PE ratio of 30.00 and a beta of 1.18. Curtiss-Wright has a 1-year low of $190.64 and a 1-year high of $297.53.

Insider Activity at Curtiss-Wright

In related news, Director S Marce Fuller sold 5,300 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $281.04, for a total value of $1,489,512.00. Following the transaction, the director now directly owns 25,770 shares in the company, valued at $7,242,400.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Kevin Rayment sold 8,415 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $281.67, for a total value of $2,370,253.05. Following the transaction, the chief operating officer now directly owns 19,914 shares in the company, valued at approximately $5,609,176.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director S Marce Fuller sold 5,300 shares of Curtiss-Wright stock in a transaction that occurred on 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 sale, the director now owns 25,770 shares of the company’s stock, valued at approximately $7,242,400.80. The disclosure for this sale can be found here. Over the last quarter, insiders bought 120 shares of company stock valued at $27,914. 0.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Curtiss-Wright from $310.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Truist Financial lifted their price objective on Curtiss-Wright from $252.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Robert W. Baird boosted their price target on Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Morgan Stanley raised their price objective on Curtiss-Wright from $284.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $307.50.

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.