FY2019 EPS Estimates for Curtiss-Wright Corp. (CW) Reduced by SunTrust Banks
Curtiss-Wright Corp. (NYSE:CW) – Equities research analysts at SunTrust Banks decreased their FY2019 earnings per share (EPS) estimates for Curtiss-Wright in a note issued to investors on Monday, January 21st. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings of $6.62 per share for the year, down from their previous forecast of $6.68. SunTrust Banks currently has a “Buy” rating and a $148.00 price target on the stock.
Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Tuesday, October 30th. The aerospace company reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.12. Curtiss-Wright had a net margin of 10.98% and a return on equity of 17.59%. The business had revenue of $595.40 million during the quarter, compared to analyst estimates of $628.27 million. During the same period last year, the business earned $1.43 EPS. The business’s revenue was up 4.8% on a year-over-year basis.
CW stock opened at $109.69 on Tuesday. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.23 and a beta of 1.27. Curtiss-Wright has a 52 week low of $95.23 and a 52 week high of $143.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.53 and a current ratio of 2.25.
Institutional investors have recently modified their holdings of the company. FMR LLC acquired a new stake in shares of Curtiss-Wright in the third quarter worth $103,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Curtiss-Wright in the third quarter worth $107,000. Sageworth Trust Co raised its stake in Curtiss-Wright by 1,075.0% during the 3rd quarter. Sageworth Trust Co now owns 1,175 shares of the aerospace company’s stock valued at $161,000 after purchasing an additional 1,075 shares during the last quarter. Cerebellum GP LLC acquired a new position in Curtiss-Wright during the 3rd quarter valued at $182,000. Finally, First Republic Investment Management Inc. acquired a new position in Curtiss-Wright during the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 75.51% of the company’s stock.
In related news, CEO David Charles Adams sold 5,620 shares of Curtiss-Wright stock in a transaction on Monday, November 26th. The stock was sold at an average price of $108.70, for a total value of $610,894.00. Following the completion of the sale, the chief executive officer now owns 87,784 shares of the company’s stock, valued at $9,542,120.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce D. Hoechner acquired 470 shares of the stock in a transaction dated Thursday, November 15th. The stock was acquired at an average price of $107.16 per share, for a total transaction of $50,365.20. Following the completion of the transaction, the director now directly owns 887 shares of the company’s stock, valued at $95,050.92. The disclosure for this purchase can be found here. Insiders have sold a total of 16,732 shares of company stock worth $1,835,055 over the last quarter. Corporate insiders own 0.87% of the company’s stock.
Curtiss-Wright declared that its board has approved a stock buyback plan on Wednesday, December 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the aerospace company to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Curtiss-Wright Company Profile
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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