Q3 2016 EPS Estimates for Curtiss-Wright Corp. (CW) Reduced by Analyst
Curtiss-Wright Corp. (NYSE:CW) – Equities researchers at Seaport Global Securities cut their Q3 2016 earnings estimates for Curtiss-Wright Corp. in a research note issued to investors on Friday. Seaport Global Securities analyst R. Cassil now expects that the firm will post earnings of $1.01 per share for the quarter, down from their prior estimate of $1.12. Seaport Global Securities also issued estimates for Curtiss-Wright Corp.’s Q4 2016 earnings at $1.48 EPS, FY2016 earnings at $4.10 EPS, Q1 2017 earnings at $0.84 EPS, Q2 2017 earnings at $1.00 EPS, Q3 2017 earnings at $1.13 EPS, Q4 2017 earnings at $1.57 EPS and FY2017 earnings at $4.54 EPS.
Curtiss-Wright Corp. (NYSE:CW) last released its earnings results on Wednesday, July 27th. The company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. The company earned $532.80 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.83 EPS.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Curtiss-Wright Corp. from a “hold” rating to a “sell” rating in a research report on Monday. William Blair assumed coverage on shares of Curtiss-Wright Corp. in a research report on Wednesday, August 3rd. They set a “market perform” rating and a $92.00 price objective for the company.
Shares of Curtiss-Wright Corp. (NYSE:CW) opened at 86.49 on Monday. Curtiss-Wright Corp. has a 12 month low of $62.57 and a 12 month high of $92.08. The company has a market cap of $3.84 billion, a P/E ratio of 22.52 and a beta of 1.27. The company’s 50 day moving average is $89.12 and its 200-day moving average is $84.27.
A number of large investors have recently bought and sold shares of CW. Aperio Group LLC boosted its stake in Curtiss-Wright Corp. by 44.1% in the first quarter. Aperio Group LLC now owns 11,691 shares of the company’s stock valued at $885,000 after buying an additional 3,579 shares in the last quarter. BlackRock Inc. boosted its stake in Curtiss-Wright Corp. by 815.5% in the first quarter. BlackRock Inc. now owns 17,889 shares of the company’s stock valued at $1,353,000 after buying an additional 15,935 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake 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 valued at $100,245,000 after buying an additional 176,906 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new stake in Curtiss-Wright Corp. during the first quarter valued at $813,000. Finally, State Street Corp boosted its stake 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 valued at $117,910,000 after buying an additional 508,349 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.
In related news, VP Tom P. Quinly sold 8,500 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $89.78, for a total transaction of $763,130.00. Following the completion of the sale, the vice president now owns 27,258 shares of the company’s stock, valued at $2,447,223.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Nathman sold 6,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was 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 of the company’s stock, valued at approximately $495,150.35. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders 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 dividend yield of 0.60%. Curtiss-Wright Corp.’s payout ratio 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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