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 on October 10th, to investors of record as of September 26th, which represents a yield of 0.2%.
• The company reported strong quarterly earnings of $3.23 per share, surpassing estimates, and an increase in revenue by 11.7% compared to the same quarter last year.
• Analysts maintain a consensus rating of "Moderate Buy" for Curtiss-Wright, with a range of price targets from $338 to $568, reflecting varied sentiment on the stock's future performance.

Curtiss-Wright Corporation (NYSE:CW - Get Free Report) declared a quarterly dividend on Thursday, September 11th, Wall Street Journal reports. Investors of record on Friday, September 26th will be paid a dividend of 0.24 per share by the aerospace company on Friday, October 10th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, September 26th.

Curtiss-Wright has a dividend payout ratio of 6.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

Curtiss-Wright stock traded up $15.79 during trading hours on Thursday, hitting $511.27. 384,273 shares of the stock traded hands, compared to its average volume of 309,277. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.35. The firm's 50 day moving average price is $486.36 and its 200-day moving average price is $413.17. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 2.95 and a beta of 1.15. Curtiss-Wright has a 1 year low of $266.88 and a 1 year high of $517.09.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.10. The business had revenue of $876.58 million for the quarter, compared to the consensus estimate of $855.10 million. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The company's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.67 EPS. As a group, equities analysts expect that Curtiss-Wright will post 12.32 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Robert W. Baird upped their price target on Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Truist Financial cut their price objective on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Wall Street Zen lowered Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley boosted their price objective on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Citigroup boosted their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright has a consensus rating of "Moderate Buy" and an average price target of $468.14.

Curtiss-Wright Company Profile

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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