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Reasons to Add Curtiss-Wright (CW) Stock to Your Portfolio Now
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Curtiss-Wright Corp.’s (CW - Free Report) proficiency in providing precision components to the aerospace, defense, general industrial and power generation domains is boosting its performance.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.
Growth Projections & Surprise History
The Zacks Consensus Estimate for CW’s 2024 earnings per share has increased 1.9% to $10.47 per share over the past 60 days. The Zacks Consensus Estimate for its 2024 revenues is pegged at $3.04 billion, which implies a rise of 6.9% from the 2023 reported sales figure.
The company delivered an average earnings surprise of 11.52% in the last four quarters.
Return on Equity
Return on equity (ROE) indicates how efficiently a company has been utilizing funds to generate higher returns. Currently, CW’s ROE is 17.07%, higher than the industry’s average of 11.34%. This indicates that the company has been utilizing funds more constructively than its peers in the electricity utility industry.
Solvency & Liquidity
CW’s times interest earned ratio (TIE) at the end of the second quarter of 2024 was 12.3. The TIE ratio of more than 1 indicates that the company will be able to meet its interest payment obligations in the near term without any problems.
The company’s current ratio at the end of the second quarter was 2.05, higher than the industry’s average of 1.55. The ratio, being greater than one, indicates Curtiss-Wright’s ability to meet its future short-term liabilities without difficulties.
Dividend History
Curtiss-Wright has been increasing its shareholder value through frequent dividend hikes. In May 2024, CW announced a quarterly dividend of 21 cents per share, an increase of 5% from the previous payout level of 20 cents per share, resulting in an annual dividend of 84 cents. The company’s current dividend yield is 0.28%, better than the industry's average of 0.17%.
CW’s Nuclear Power Expansion
Curtiss-Wright, a prominent developer of advanced nuclear technologies, is expected to see increased opportunities due to the $3.2 billion allocated by the U.S. Department of Energy for advanced nuclear through its Advanced Reactor Demonstration Program. To further expand its footprint in this space, in April 2024, CW acquired WSC, Inc., a company that supports commercial nuclear power generation and process plants.
Price Performance
In the past six months, the stock has rallied 25.2% compared with the industry’s growth of 11.4%.
Leonardo DRS’ long-term (three to five years) earnings growth rate is 16.4%. The Zacks Consensus Estimate for DRS’ total revenues for 2024 stands at $3.15 billion, which indicates year-over-year growth of 11.4%.
BAE Systems’ long-term earnings growth rate is 12.4%. The Zacks Consensus Estimate for BAESY’s 2024 sales is pegged at $35.84 billion, which implies an improvement of 36.3% from the 2023 reported sales figure.
RTX Corporation’s long-term earnings growth rate is 10.4%. The Zacks Consensus Estimate for RTX’s 2024 sales is pegged at $79.37 billion, which calls for a rise of 6.7% from the 2023 reported sales figure.
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Reasons to Add Curtiss-Wright (CW) Stock to Your Portfolio Now
Curtiss-Wright Corp.’s (CW - Free Report) proficiency in providing precision components to the aerospace, defense, general industrial and power generation domains is boosting its performance.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.
Growth Projections & Surprise History
The Zacks Consensus Estimate for CW’s 2024 earnings per share has increased 1.9% to $10.47 per share over the past 60 days. The Zacks Consensus Estimate for its 2024 revenues is pegged at $3.04 billion, which implies a rise of 6.9% from the 2023 reported sales figure.
The company delivered an average earnings surprise of 11.52% in the last four quarters.
Return on Equity
Return on equity (ROE) indicates how efficiently a company has been utilizing funds to generate higher returns. Currently, CW’s ROE is 17.07%, higher than the industry’s average of 11.34%. This indicates that the company has been utilizing funds more constructively than its peers in the electricity utility industry.
Solvency & Liquidity
CW’s times interest earned ratio (TIE) at the end of the second quarter of 2024 was 12.3. The TIE ratio of more than 1 indicates that the company will be able to meet its interest payment obligations in the near term without any problems.
The company’s current ratio at the end of the second quarter was 2.05, higher than the industry’s average of 1.55. The ratio, being greater than one, indicates Curtiss-Wright’s ability to meet its future short-term liabilities without difficulties.
Dividend History
Curtiss-Wright has been increasing its shareholder value through frequent dividend hikes. In May 2024, CW announced a quarterly dividend of 21 cents per share, an increase of 5% from the previous payout level of 20 cents per share, resulting in an annual dividend of 84 cents. The company’s current dividend yield is 0.28%, better than the industry's average of 0.17%.
CW’s Nuclear Power Expansion
Curtiss-Wright, a prominent developer of advanced nuclear technologies, is expected to see increased opportunities due to the $3.2 billion allocated by the U.S. Department of Energy for advanced nuclear through its Advanced Reactor Demonstration Program. To further expand its footprint in this space, in April 2024, CW acquired WSC, Inc., a company that supports commercial nuclear power generation and process plants.
Price Performance
In the past six months, the stock has rallied 25.2% compared with the industry’s growth of 11.4%.
Image Source: Zacks Investment Research
Other Stocks to Consider
A few other top-ranked stocks from the same sector are Leonardo DRS, Inc. (DRS - Free Report) , BAE Systems (BAESY - Free Report) and RTX Corporation (RTX - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Leonardo DRS’ long-term (three to five years) earnings growth rate is 16.4%. The Zacks Consensus Estimate for DRS’ total revenues for 2024 stands at $3.15 billion, which indicates year-over-year growth of 11.4%.
BAE Systems’ long-term earnings growth rate is 12.4%. The Zacks Consensus Estimate for BAESY’s 2024 sales is pegged at $35.84 billion, which implies an improvement of 36.3% from the 2023 reported sales figure.
RTX Corporation’s long-term earnings growth rate is 10.4%. The Zacks Consensus Estimate for RTX’s 2024 sales is pegged at $79.37 billion, which calls for a rise of 6.7% from the 2023 reported sales figure.