Curtiss-Wright (NYSE:CW) Updates FY22 Earnings Guidance

Curtiss-Wright (NYSE:CWGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share guidance of $8.05-8.25 for the period, compared to the consensus earnings per share estimate of $8.15. The company issued revenue guidance of $2.53-2.58 billion, compared to the consensus revenue estimate of $2.55 billion.

Shares of Curtiss-Wright stock traded up $4.01 on Friday, reaching $141.51. 417,279 shares of the stock were exchanged, compared to its average volume of 171,004. Curtiss-Wright has a twelve month low of $111.26 and a twelve month high of $162.98. The business has a 50 day moving average price of $150.16 and a two-hundred day moving average price of $139.84. The company has a quick ratio of 1.22, a current ratio of 1.78 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 22.90 and a beta of 1.37.

Curtiss-Wright (NYSE:CWGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The aerospace company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.20 by $0.11. Curtiss-Wright had a net margin of 10.06% and a return on equity of 15.30%. The business had revenue of $559.46 million for the quarter, compared to the consensus estimate of $579.97 million. During the same period in the prior year, the firm earned $1.51 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts forecast that Curtiss-Wright will post 8.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.51%. Curtiss-Wright’s payout ratio is currently 11.65%.

CW has been the topic of several analyst reports. StockNews.com raised Curtiss-Wright from a buy rating to a strong-buy rating in a report on Thursday. Morgan Stanley raised their price objective on shares of Curtiss-Wright from $180.00 to $189.00 and gave the stock an overweight rating in a research note on Tuesday, March 1st. Finally, Berenberg Bank assumed coverage on shares of Curtiss-Wright in a report on Friday, January 21st. They set a buy rating and a $170.00 price target on the stock.

In other news, VP Paul J. Ferdenzi sold 962 shares of the company’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $137.25, for a total transaction of $132,034.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kevin Rayment sold 723 shares of the firm’s stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $137.23, for a total transaction of $99,217.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,335 shares of company stock worth $3,566,091. Insiders own 0.62% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC raised its holdings in shares of Curtiss-Wright by 6.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 111,009 shares of the aerospace company’s stock worth $15,394,000 after acquiring an additional 6,622 shares during the period. Morgan Stanley raised its stake in Curtiss-Wright by 15.5% during the second quarter. Morgan Stanley now owns 107,753 shares of the aerospace company’s stock worth $12,797,000 after purchasing an additional 14,423 shares during the period. Deutsche Bank AG boosted its holdings in Curtiss-Wright by 24.8% in the 4th quarter. Deutsche Bank AG now owns 31,714 shares of the aerospace company’s stock valued at $4,398,000 after purchasing an additional 6,301 shares during the last quarter. Weiss Multi Strategy Advisers LLC grew its stake in shares of Curtiss-Wright by 159.0% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 25,904 shares of the aerospace company’s stock valued at $3,592,000 after buying an additional 15,904 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of Curtiss-Wright by 7.5% during the 4th quarter. LPL Financial LLC now owns 8,538 shares of the aerospace company’s stock worth $1,184,000 after buying an additional 595 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Curtiss-Wright Company Profile (Get Rating)

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services to the aerospace, defense, general industrial, and power generation markets worldwide. worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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