Strength Seen in Curtiss-Wright (CW): Can Its 3.3% Jump Turn into More Strength?
Curtiss-Wright (CW) shares ended the last trading session 3.3% higher at $328.50. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.5% gain over the past four weeks.
Curtiss-Wright’s long-term growth opportunities in the global nuclear market remain solid. A shift toward adopting alternative energy sources is evident to reduce the emission of greenhouse gases. Electricity generated from nuclear power plants is among the most efficient and environment-friendly sources of energy.
Curtiss-Wright is expected to play a role in new nuclear plant construction and support the growing need for carbon-free emissions. Curtiss-Wright continues to expect increased opportunities for its vast portfolio of advanced nuclear technologies. To expand its footprint in this space, in April 2024, Curtiss-Wright purchased WSC, Inc., which supports the design, commissioning, and reliable operation of commercial nuclear power generation and process plants.
This engineering firm is expected to post quarterly earnings of $2.70 per share in its upcoming report, which represents a year-over-year change of +6.3%. Revenues are expected to be $754.28 million, up 4.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Curtiss-Wright, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Curtiss-Wright belongs to the Zacks Aerospace - Defense Equipment industry. Another stock from the same industry, Triumph Group (TGI), closed the last trading session 0.4% lower at $13.47. Over the past month, TGI has returned -0.7%.
For Triumph Group , the consensus EPS estimate for the upcoming report has changed -5% over the past month to $0.06. This represents a change of +500% from what the company reported a year ago. Triumph Group currently has a Zacks Rank of #3 (Hold).
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