Brokerages Expect Curtiss-Wright Corporation (CW) Will Post Quarterly Sales of $589.22 Million

Brokerages forecast that Curtiss-Wright Corporation (NYSE:CW) will report $589.22 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Curtiss-Wright’s earnings, with the highest sales estimate coming in at $603.82 million and the lowest estimate coming in at $581.00 million. Curtiss-Wright reported sales of $565.57 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that Curtiss-Wright will report full year sales of $589.22 million for the current fiscal year, with estimates ranging from $2.24 billion to $2.28 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.35 billion per share, with estimates ranging from $2.31 billion to $2.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Curtiss-Wright.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.21. The company had revenue of $567.90 million for the quarter, compared to the consensus estimate of $539.28 million. Curtiss-Wright had a return on equity of 15.60% and a net margin of 9.70%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS.

Several analysts have recently weighed in on the company. Wells Fargo & Co raised Curtiss-Wright from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Tuesday, January 16th. Stifel Nicolaus lifted their price objective on Curtiss-Wright from $126.00 to $139.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Robert W. Baird assumed coverage on Curtiss-Wright in a report on Tuesday, December 5th. They set an “outperform” rating and a $149.00 price objective on the stock. Seaport Global Securities reissued a “buy” rating on shares of Curtiss-Wright in a report on Friday, October 27th. Finally, Bank of America raised Curtiss-Wright from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a report on Monday, October 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $132.00.

Curtiss-Wright (NYSE:CW) opened at $133.31 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $5,880.00, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. Curtiss-Wright has a 1 year low of $82.77 and a 1 year high of $134.44.

In related news, Director Albert E. Smith sold 1,700 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $122.35, for a total value of $207,995.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Paul J. Ferdenzi sold 2,651 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $115.00, for a total value of $304,865.00. Following the completion of the sale, the vice president now directly owns 19,835 shares in the company, valued at approximately $2,281,025. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,290 shares of company stock worth $5,969,585. 1.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CW. Neuberger Berman Group LLC boosted its stake in Curtiss-Wright by 0.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,297 shares of the aerospace company’s stock valued at $303,000 after buying an additional 18 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Curtiss-Wright by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 236,361 shares of the aerospace company’s stock valued at $21,694,000 after buying an additional 2,147 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Curtiss-Wright by 53.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,366 shares of the aerospace company’s stock valued at $309,000 after buying an additional 1,166 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Curtiss-Wright by 5.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 235,693 shares of the aerospace company’s stock valued at $21,632,000 after buying an additional 11,121 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Curtiss-Wright by 0.6% in the second quarter. BlackRock Inc. now owns 5,130,026 shares of the aerospace company’s stock worth $470,833,000 after purchasing an additional 30,422 shares in the last quarter. 76.17% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. and international copyright & trademark law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/21/brokerages-expect-curtiss-wright-corporation-cw-will-post-quarterly-sales-of-589-22-million.html.

Curtiss-Wright Company Profile

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.

Get a free copy of the Zacks research report on Curtiss-Wright (CW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Curtiss-Wright (NYSE:CW)

Receive News & Ratings for Curtiss-Wright Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Curtiss-Wright and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply