Curtiss-Wright Corporation (NYSE:CW) to Issue $0.24 Quarterly Dividend

Key Points

• Curtiss-Wright Corporation has declared a quarterly dividend of $0.24 per share, payable to investors of record on January 1, reflecting a 0.2% dividend yield.
• The company reported a rise in quarterly revenue by 11.7% and earnings per share of $3.23, exceeding analyst expectations by $0.10.
• Several analysts have recently upgraded their ratings for Curtiss-Wright, with price targets reaching as high as $568, indicating a strong market outlook.

Curtiss-Wright Corporation (NYSE:CW - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Investors of record on Saturday, January 1st will be paid a dividend of 0.24 per share by the aerospace company on Saturday, January 1st. This represents a c) annualized dividend and a dividend yield of 0.2%.

Curtiss-Wright has a dividend payout ratio of 6.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Curtiss-Wright to earn $13.06 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 6.4%.

Curtiss-Wright Stock Down 0.7%

Shares of Curtiss-Wright stock traded down $3.77 during midday trading on Wednesday, hitting $507.87. The company's stock had a trading volume of 485,211 shares, compared to its average volume of 295,861. Curtiss-Wright has a 1-year low of $266.78 and a 1-year high of $517.09. The firm has a market capitalization of $19.13 billion, a P/E ratio of 45.18, a PEG ratio of 3.21 and a beta of 1.18. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 0.37. The stock has a 50-day simple moving average of $475.59 and a 200-day simple moving average of $388.76.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. Curtiss-Wright's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.67 earnings per share. As a group, sell-side analysts expect that Curtiss-Wright will post 12.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CW. Morgan Stanley raised their price objective on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Wall Street Zen cut shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Robert W. Baird upped their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Stifel Nicolaus increased their price objective on Curtiss-Wright from $365.00 to $450.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Finally, Citigroup boosted their price target on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $467.14.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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