Brokerages Expect Curtiss-Wright Corp. (NYSE:CW) to Post $1.84 EPS

Wall Street analysts predict that Curtiss-Wright Corp. (NYSE:CW) will post earnings per share (EPS) of $1.84 for the current quarter, according to Zacks. Five analysts have issued estimates for Curtiss-Wright’s earnings. The lowest EPS estimate is $1.80 and the highest is $1.86. Curtiss-Wright reported earnings of $1.70 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.2%. The company is scheduled to announce its next earnings results on Tuesday, October 29th.

On average, analysts expect that Curtiss-Wright will report full-year earnings of $7.12 per share for the current financial year, with EPS estimates ranging from $7.00 to $7.18. For the next fiscal year, analysts expect that the company will report earnings of $7.64 per share, with EPS estimates ranging from $7.48 to $7.80. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Curtiss-Wright.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Wednesday, July 31st. The aerospace company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.13. The company had revenue of $639.00 million during the quarter, compared to analyst estimates of $642.66 million. Curtiss-Wright had a net margin of 11.90% and a return on equity of 18.54%. Curtiss-Wright’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.80 earnings per share.

Several brokerages have recently issued reports on CW. Zacks Investment Research raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research report on Wednesday, May 15th. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $138.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, ValuEngine raised shares of Curtiss-Wright from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Curtiss-Wright presently has a consensus rating of “Buy” and an average target price of $139.20.

In related news, CEO David Charles Adams sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $130.01, for a total value of $910,070.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Glenn E. Tynan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $115.00, for a total transaction of $575,000.00. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock worth $1,607,970 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. Cerebellum GP LLC raised its holdings in Curtiss-Wright by 99.9% during the first quarter. Cerebellum GP LLC now owns 2,649 shares of the aerospace company’s stock worth $300,000 after purchasing an additional 1,324 shares in the last quarter. Dean Investment Associates LLC raised its holdings in Curtiss-Wright by 4.2% during the first quarter. Dean Investment Associates LLC now owns 6,722 shares of the aerospace company’s stock worth $762,000 after purchasing an additional 269 shares in the last quarter. Clark Capital Management Group Inc. acquired a new stake in Curtiss-Wright during the first quarter worth approximately $2,954,000. Highland Capital Management LLC acquired a new stake in Curtiss-Wright during the first quarter worth approximately $1,156,000. Finally, FMR LLC raised its holdings in Curtiss-Wright by 11,081.0% during the fourth quarter. FMR LLC now owns 83,522 shares of the aerospace company’s stock worth $8,529,000 after purchasing an additional 82,775 shares in the last quarter. 76.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CW traded up $2.23 during mid-day trading on Friday, hitting $119.95. 148,700 shares of the company’s stock were exchanged, compared to its average volume of 217,026. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.99 and a beta of 1.23. Curtiss-Wright has a fifty-two week low of $95.23 and a fifty-two week high of $141.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.41 and a current ratio of 2.10. The stock’s 50-day moving average is $125.22 and its 200-day moving average is $118.08.

Curtiss-Wright announced that its Board of Directors has initiated 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 typically a sign that the company’s board believes its shares are undervalued.

About Curtiss-Wright

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

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