Curtiss-Wright Corp. (NYSE:CW) – William Blair cut their Q3 2016 earnings per share estimates for shares of Curtiss-Wright Corp. in a report issued on Friday. William Blair analyst C. Jacobson now forecasts that the brokerage will post earnings of $0.99 per share for the quarter, down from their previous forecast of $1.05. William Blair has a “Market Perform” rating and a $92.00 price target 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.
A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of Curtiss-Wright Corp. from a “hold” rating to a “sell” rating in a research note on Monday. Deutsche Bank AG restated a “buy” rating and set a $95.00 price target (up previously from $89.00) on shares of Curtiss-Wright Corp. in a research note on Monday, June 13th.
Curtiss-Wright Corp. (NYSE:CW) opened at 88.36 on Monday. The stock has a 50 day moving average of $89.22 and a 200 day moving average of $84.25. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 23.00 and a beta of 1.27. 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 issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.07. The company had revenue of $532.80 million for the quarter, compared to analyst estimates of $523.84 million. Curtiss-Wright Corp. had a net margin of 8.21% and a return on equity of 14.15%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Curtiss-Wright Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 3,013,252 shares of the company’s stock worth $253,866,000 after buying an additional 125,895 shares in the last quarter. BlackRock Fund Advisors increased its position in Curtiss-Wright Corp. by 3.7% in the second quarter. BlackRock Fund Advisors now owns 2,401,975 shares of the company’s stock worth $202,366,000 after buying an additional 86,145 shares in the last quarter. State Street Corp increased its position in 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 in the last quarter. Primecap Management Co. CA increased its position in Curtiss-Wright Corp. by 0.3% in the second quarter. Primecap Management Co. CA now owns 1,380,900 shares of the company’s stock worth $116,341,000 after buying an additional 4,000 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Curtiss-Wright Corp. by 15.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,324,764 shares of the company’s stock worth $100,245,000 after buying an additional 176,906 shares in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.
In other Curtiss-Wright Corp. news, Director John B. Nathman sold 6,000 shares of Curtiss-Wright Corp. stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $90.77, for a total transaction of $544,620.00. Following the transaction, the director now directly owns 5,455 shares of the company’s stock, valued at approximately $495,150.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tom P. Quinly sold 8,500 shares of Curtiss-Wright Corp. stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $89.78, for a total transaction of $763,130.00. Following the transaction, the vice president now directly owns 27,258 shares in the company, valued at $2,447,223.24. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.13 per share. 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 dividend payout ratio (DPR) is presently 13.58%.
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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