Woodward (NASDAQ:WWD) Updates FY 2024 Earnings Guidance

Woodward (NASDAQ:WWD) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.700-6.000 for the period, compared to the consensus estimate of 5.360. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.2 billion. Woodward also updated its FY24 guidance to $5.70-6.00 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WWD shares. Alembic Global Advisors downgraded shares of Woodward from an overweight rating to a neutral rating and set a $148.00 target price on the stock. in a research note on Thursday, February 1st. StockNews.com lowered shares of Woodward from a strong-buy rating to a buy rating in a research report on Friday, February 2nd. Barclays increased their price objective on Woodward from $134.00 to $140.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Truist Financial boosted their price objective on shares of Woodward from $143.00 to $152.00 and gave the stock a hold rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Woodward from $165.00 to $174.00 and gave the company a buy rating in a research note on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Woodward currently has an average rating of Moderate Buy and a consensus target price of $161.00.

Woodward Stock Up 8.4 %

Shares of NASDAQ WWD traded up $12.65 during midday trading on Tuesday, hitting $163.72. The stock had a trading volume of 568,565 shares, compared to its average volume of 385,130. The business’s 50 day moving average is $148.01 and its 200-day moving average is $138.67. Woodward has a 52 week low of $95.60 and a 52 week high of $169.99. The company has a quick ratio of 1.69, a current ratio of 2.65 and a debt-to-equity ratio of 0.30. The company has a market cap of $9.87 billion, a P/E ratio of 34.53, a PEG ratio of 1.84 and a beta of 1.36.

Woodward (NASDAQ:WWD) last released its quarterly earnings data on Monday, April 29th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.34. Woodward had a return on equity of 15.26% and a net margin of 9.50%. The business had revenue of $835.34 million for the quarter, compared to analysts’ expectations of $807.04 million. During the same period in the prior year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, analysts predict that Woodward will post 5.27 EPS for the current year.

Woodward Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Tuesday, May 21st. Woodward’s dividend payout ratio is 21.10%.

Insider Activity

In other Woodward news, COO Thomas G. Cromwell sold 38,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.98, for a total transaction of $5,494,626.00. Following the completion of the sale, the chief operating officer now owns 11,833 shares of the company’s stock, valued at $1,680,049.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Woodward news, COO Thomas G. Cromwell sold 38,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.98, for a total value of $5,494,626.00. Following the completion of the transaction, the chief operating officer now directly owns 11,833 shares in the company, valued at $1,680,049.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John D. Cohn sold 1,500 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $138.86, for a total value of $208,290.00. Following the completion of the sale, the director now owns 20,531 shares of the company’s stock, valued at approximately $2,850,934.66. The disclosure for this sale can be found here. Insiders sold 51,200 shares of company stock valued at $7,242,916 in the last quarter. 1.12% of the stock is currently owned by insiders.

Woodward Company Profile

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft.