Curtiss-Wright (CW) Issues FY19 Earnings Guidance

Curtiss-Wright (NYSE:CW) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.00-7.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.88. The company issued revenue guidance of $2.51-2.55 billion, compared to the consensus revenue estimate of $2.52 billion.

Shares of NYSE:CW traded down $1.45 during trading on Friday, hitting $111.74. 687 shares of the company traded hands, compared to its average volume of 294,466. Curtiss-Wright has a one year low of $95.23 and a one year high of $141.29. The firm has a market capitalization of $4.85 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.27 and a beta of 1.24. The company has a current ratio of 2.05, a quick ratio of 1.31 and a debt-to-equity ratio of 0.56.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.14. The business had revenue of $578.30 million during the quarter, compared to analyst estimates of $574.76 million. Curtiss-Wright had a return on equity of 18.68% and a net margin of 11.78%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. As a group, analysts predict that Curtiss-Wright will post 7.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.61%. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, June 19th. Curtiss-Wright’s dividend payout ratio is 9.42%.

Curtiss-Wright announced that its board has authorized a share repurchase program on Wednesday, May 15th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the aerospace company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently commented on CW shares. Zacks Investment Research upgraded Curtiss-Wright from a sell rating to a hold rating in a research report on Wednesday, February 6th. Robert W. Baird increased their target price on Curtiss-Wright from $123.00 to $140.00 and gave the company an outperform rating in a report on Thursday, February 28th. Bank of America lowered Curtiss-Wright from a buy rating to a neutral rating and set a $135.00 target price for the company. in a report on Friday, March 1st. They noted that the move was a valuation call. Finally, ValuEngine lowered Curtiss-Wright from a hold rating to a sell rating in a report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $134.29.

In other news, VP Glenn E. Tynan sold 5,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were 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 can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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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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