Curtiss-Wright Corp. (NYSE:CW) – Equities research analysts at Seaport Global Securities decreased their Q2 2019 earnings estimates for shares of Curtiss-Wright in a research note issued on Wednesday, June 12th. Seaport Global Securities analyst W. Liptak now forecasts that the aerospace company will post earnings per share of $1.86 for the quarter, down from their prior forecast of $1.92. Seaport Global Securities also issued estimates for Curtiss-Wright’s Q3 2019 earnings at $1.82 EPS and Q4 2019 earnings at $2.15 EPS.
Several other analysts also recently commented on CW. Zacks Investment Research raised Curtiss-Wright from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Wednesday, May 15th. ValuEngine raised Curtiss-Wright from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Bank of America downgraded Curtiss-Wright from a “buy” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a research note on Friday, March 1st. They noted that the move was a valuation call. Finally, Robert W. Baird raised their price objective on Curtiss-Wright from $123.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Curtiss-Wright presently has an average rating of “Buy” and an average price target of $134.29.
CW stock opened at $117.90 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.31 and a current ratio of 2.05. The firm has a market capitalization of $4.94 billion, a PE ratio of 17.25, a P/E/G ratio of 2.32 and a beta of 1.18. Curtiss-Wright has a twelve month low of $95.23 and a twelve month high of $141.29.
Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, May 8th. The aerospace company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.14. The company had revenue of $578.30 million for the quarter, compared to the consensus estimate of $574.76 million. Curtiss-Wright had a return on equity of 18.68% and a net margin of 11.78%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.58%. The ex-dividend date is Wednesday, June 19th. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.15. Curtiss-Wright’s dividend payout ratio (DPR) is presently 9.42%.
Curtiss-Wright announced that its Board of Directors has approved a stock buyback program on Wednesday, May 15th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the aerospace company to buy up to 4.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other Curtiss-Wright news, VP Glenn E. Tynan sold 5,000 shares of Curtiss-Wright stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $115.00, for a total value of $575,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Utah Retirement Systems lifted its stake in Curtiss-Wright by 1.2% in the 4th quarter. Utah Retirement Systems now owns 8,200 shares of the aerospace company’s stock worth $837,000 after purchasing an additional 100 shares in the last quarter. US Bancorp DE raised its stake in Curtiss-Wright by 0.8% during the 1st quarter. US Bancorp DE now owns 12,401 shares of the aerospace company’s stock worth $1,407,000 after buying an additional 104 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Curtiss-Wright by 0.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 17,517 shares of the aerospace company’s stock worth $1,985,000 after buying an additional 109 shares during the period. HighTower Advisors LLC raised its stake in Curtiss-Wright by 0.3% during the 1st quarter. HighTower Advisors LLC now owns 39,591 shares of the aerospace company’s stock worth $4,486,000 after buying an additional 121 shares during the period. Finally, Campbell Newman Asset Management Inc. raised its stake in Curtiss-Wright by 2.4% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 5,321 shares of the aerospace company’s stock worth $603,000 after buying an additional 124 shares during the period. 76.42% of the stock is currently owned by hedge funds and other institutional investors.
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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