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Curtiss-Wright (CW) Moves 3.7% Higher: Will This Strength Last?

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Curtiss-Wright (CW - Free Report) shares ended the last trading session 3.7% higher at $154.38. 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 7.8% gain over the past four weeks.

Increased optimism among investors on Curtiss-Wright’s participation in the Bank of America Global Industries Conference 2022, held on Mar 17, must have resulted in the latest uptick in its share price.

This engineering firm is expected to post quarterly earnings of $1.21 per share in its upcoming report, which represents a year-over-year change of -19.9%. Revenues are expected to be $567.45 million, down 5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Curtiss-Wright, the consensus EPS estimate for the quarter has been revised 29% 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Curtiss-Wright is part of the Zacks Aerospace - Defense Equipment industry. AAR (AIR - Free Report) , another stock in the same industry, closed the last trading session 1.4% higher at $45.42. AIR has returned 2% in the past month.

AAR's consensus EPS estimate for the upcoming report has changed -3.9% over the past month to $0.62. Compared to the company's year-ago EPS, this represents a change of +67.6%. AAR currently boasts a Zacks Rank of #4 (Sell).


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