Curtiss-Wright (NYSE:CW) Releases Earnings Results, Beats Estimates By $0.15 EPS

Curtiss-Wright (NYSE:CW) announced its quarterly earnings results on Wednesday. The aerospace company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.12 by $0.15, Zacks reports. Curtiss-Wright had a net margin of 13.20% and a return on equity of 17.21%.

Curtiss-Wright Stock Performance

Shares of CW stock traded down $8.76 during trading hours on Wednesday, reaching $341.92. 299,601 shares of the company’s stock were exchanged, compared to its average volume of 282,390. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.98 and a quick ratio of 1.39. The company’s 50 day moving average is $359.19 and its two-hundred day moving average is $341.02. The company has a market cap of $12.98 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 2.50 and a beta of 1.19. Curtiss-Wright has a 1 year low of $225.33 and a 1 year high of $393.40.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Thursday, March 27th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, March 27th. Curtiss-Wright’s dividend payout ratio is presently 7.95%.

Insider Buying and Selling

In related news, VP John C. Watts sold 622 shares of Curtiss-Wright stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $347.05, for a total transaction of $215,865.10. Following the completion of the transaction, the vice president now directly owns 5,072 shares of the company’s stock, valued at approximately $1,760,237.60. The trade was a 10.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lynn M. Bamford sold 7,129 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $368.80, for a total value of $2,629,175.20. Following the sale, the chief executive officer now owns 28,688 shares in the company, valued at approximately $10,580,134.40. The trade was a 19.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 116 shares of company stock valued at $35,278 and have sold 23,064 shares valued at $8,157,322. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CW. Deutsche Bank Aktiengesellschaft assumed coverage on Curtiss-Wright in a research report on Thursday, December 5th. They issued a “buy” rating and a $452.00 target price for the company. Morgan Stanley increased their price objective on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price on the stock. in a report on Monday, November 18th. Truist Financial raised their price objective on shares of Curtiss-Wright from $333.00 to $357.00 and gave the stock a “hold” rating in a research report on Tuesday, January 14th. Finally, Citigroup assumed coverage on Curtiss-Wright in a report on Tuesday, January 21st. They set a “buy” rating and a $410.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $386.86.

Curtiss-Wright Company Profile

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.