Curtiss-Wright Corp. (NYSE:CW) – Research analysts at William Blair reduced their Q3 2016 earnings per share (EPS) estimates for Curtiss-Wright Corp. in a report issued on Friday. William Blair analyst C. Jacobson now anticipates that the brokerage will post earnings of $0.99 per share for the quarter, down from their prior forecast of $1.05. William Blair has a “Market Perform” rating and a $92.00 price objective on the stock. William Blair also issued estimates for Curtiss-Wright Corp.’s Q4 2016 earnings at $1.40 EPS, FY2016 earnings at $4.00 EPS, FY2017 earnings at $4.20 EPS and FY2018 earnings at $4.60 EPS.
Several other brokerages have also recently weighed in on CW. Zacks Investment Research raised shares of Curtiss-Wright Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $89.00) on shares of Curtiss-Wright Corp. in a research report on Monday, June 13th.
Shares of Curtiss-Wright Corp. (NYSE:CW) opened at 87.87 on Monday. The company has a market capitalization of $3.90 billion, a PE ratio of 22.88 and a beta of 1.27. The stock has a 50 day moving average of $89.25 and a 200-day moving average of $84.00. Curtiss-Wright Corp. has a 12-month low of $62.57 and a 12-month high of $92.08.
Curtiss-Wright Corp. (NYSE:CW) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. Curtiss-Wright Corp. had a net margin of 8.21% and a return on equity of 14.15%. The business had revenue of $532.80 million for the quarter, compared to analysts’ expectations of $523.84 million. During the same period last year, the business earned $0.83 EPS. The company’s revenue was down 2.2% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, October 7th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.52 dividend on an annualized basis and a yield of 0.59%. Curtiss-Wright Corp.’s payout ratio is currently 13.58%.
In other Curtiss-Wright Corp. news, Director John B. Nathman sold 6,000 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $90.77, for a total transaction of $544,620.00. Following the sale, the director now directly owns 5,455 shares in the company, valued at $495,150.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Tom P. Quinly sold 8,500 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $89.78, for a total transaction of $763,130.00. Following the sale, the vice president now owns 27,258 shares in the company, valued at $2,447,223.24. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. State Street Corp raised its stake in shares of Curtiss-Wright Corp. by 48.4% in the first quarter. State Street Corp now owns 1,558,198 shares of the company’s stock worth $117,910,000 after buying an additional 508,349 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Curtiss-Wright Corp. by 141.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 635,740 shares of the company’s stock worth $48,106,000 after buying an additional 372,806 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Curtiss-Wright Corp. by 48.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,139,569 shares of the company’s stock worth $86,231,000 after buying an additional 369,843 shares during the last quarter. Mesirow Financial Investment Management Equity Management raised its stake in Curtiss-Wright Corp. by 796.7% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 302,815 shares of the company’s stock worth $25,514,000 after buying an additional 269,046 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Curtiss-Wright Corp. by 683.0% in the first quarter. UBS Asset Management Americas Inc. now owns 302,531 shares of the company’s stock worth $22,892,000 after buying an additional 263,896 shares during the last quarter. Institutional investors own 77.11% of the company’s stock.
About Curtiss-Wright Corp.
Curtiss-Wright Corporation is a provider of engineered products and services to the commercial, defense, energy and industrial markets. The Company operates through three segments: Commercial/Industrial, which provides a diversified offering of engineered products and services supporting applications primarily across the commercial aerospace and general industrial markets; Defense, which consists of businesses that primarily provide products to the defense markets and to the commercial aerospace market, and Power, which consists of businesses that primarily provide products to the power generation markets and to the naval defense market.
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