$534.42 Million in Sales Expected for Curtiss-Wright Corporation (CW) This Quarter
Wall Street analysts expect Curtiss-Wright Corporation (NYSE:CW) to post sales of $534.42 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Curtiss-Wright Corporation’s earnings. The highest sales estimate is $544.77 million and the lowest is $530.00 million. Curtiss-Wright Corporation reported sales of $507.09 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.4%. The company is scheduled to report its next earnings results after the market closes on Wednesday, October 25th.
On average, analysts expect that Curtiss-Wright Corporation will report full-year sales of $534.42 million for the current year, with estimates ranging from $2.21 billion to $2.25 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.30 billion per share, with estimates ranging from $2.27 billion to $2.32 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Curtiss-Wright Corporation.
Curtiss-Wright Corporation (NYSE:CW) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.16. Curtiss-Wright Corporation had a net margin of 9.14% and a return on equity of 14.79%. The firm had revenue of $567.70 million for the quarter, compared to analyst estimates of $546.73 million. Curtiss-Wright Corporation’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS.
Several brokerages have recently commented on CW. BidaskClub raised shares of Curtiss-Wright Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered shares of Curtiss-Wright Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, Stifel Nicolaus began coverage on shares of Curtiss-Wright Corporation in a research note on Monday, September 18th. They issued a “hold” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $107.40.
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In other Curtiss-Wright Corporation news, Director S Marce Fuller sold 1,300 shares of Curtiss-Wright Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total value of $125,008.00. Following the completion of the sale, the director now directly owns 14,960 shares in the company, valued at $1,438,553.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paul J. Ferdenzi sold 6,907 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $106.18, for a total value of $733,385.26. Following the completion of the transaction, the vice president now directly owns 19,467 shares in the company, valued at $2,067,006.06. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its holdings in shares of Curtiss-Wright Corporation by 251.5% during the second quarter. Prudential Financial Inc. now owns 327,613 shares of the aerospace company’s stock valued at $30,068,000 after acquiring an additional 234,409 shares in the last quarter. World Asset Management Inc raised its position in shares of Curtiss-Wright Corporation by 1.8% during the first quarter. World Asset Management Inc now owns 2,716 shares of the aerospace company’s stock worth $248,000 after purchasing an additional 49 shares during the period. Paloma Partners Management Co lifted its holdings in shares of Curtiss-Wright Corporation by 12.8% in the 1st quarter. Paloma Partners Management Co now owns 36,450 shares of the aerospace company’s stock worth $3,327,000 after purchasing an additional 4,123 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Curtiss-Wright Corporation in the 2nd quarter worth $13,442,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Curtiss-Wright Corporation in the 1st quarter worth $233,000. 76.18% of the stock is currently owned by institutional investors.
Shares of Curtiss-Wright Corporation (NYSE:CW) opened at 105.05 on Wednesday. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 23.83 and a beta of 1.25. The stock has a 50 day moving average of $99.11 and a 200 day moving average of $93.64. Curtiss-Wright Corporation has a 52-week low of $82.77 and a 52-week high of $107.61.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.15 per share. This is a boost from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, October 5th. Curtiss-Wright Corporation’s payout ratio is 11.79%.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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