Woodward (NASDAQ:WWD) Updates FY24 Earnings Guidance

Woodward (NASDAQ:WWD) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $5.80-6.00 for the period, compared to the consensus EPS estimate of $5.99. The company issued revenue guidance of $3.25-3.30 billion, compared to the consensus revenue estimate of $3.31 billion.

Woodward Trading Up 0.0 %

Shares of WWD stock traded up $0.06 during mid-day trading on Monday, hitting $183.19. 547,532 shares of the company’s stock were exchanged, compared to its average volume of 401,827. The company has a quick ratio of 1.78, a current ratio of 2.62 and a debt-to-equity ratio of 0.28. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.89 and a beta of 1.37. The stock has a 50-day simple moving average of $180.48 and a two-hundred day simple moving average of $159.98. Woodward has a fifty-two week low of $119.03 and a fifty-two week high of $188.35.

Woodward (NASDAQ:WWD) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.34. Woodward had a return on equity of 16.50% and a net margin of 11.09%. The business had revenue of $835.34 million during the quarter, compared to the consensus estimate of $807.04 million. During the same period in the previous year, the business earned $1.01 EPS. The business’s quarterly revenue was up 16.3% on a year-over-year basis. Equities analysts expect that Woodward will post 5.88 EPS for the current fiscal year.

Woodward Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be issued a $0.25 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. Woodward’s dividend payout ratio is currently 17.48%.

Analysts Set New Price Targets

WWD has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Woodward from $200.00 to $210.00 and gave the company a buy rating in a research report on Tuesday, May 28th. Truist Financial increased their price objective on Woodward from $143.00 to $152.00 and gave the stock a hold rating in a report on Tuesday, April 30th. Barclays lifted their target price on Woodward from $140.00 to $175.00 and gave the company an equal weight rating in a research note on Monday, May 6th. The Goldman Sachs Group boosted their price target on Woodward from $159.00 to $201.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company raised their price target on Woodward from $156.00 to $172.00 and gave the company an equal weight rating in a report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $174.38.

Insiders Place Their Bets

In other Woodward news, Director Gregg C. Sengstack sold 6,000 shares of Woodward stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $167.01, for a total transaction of $1,002,060.00. Following the transaction, the director now directly owns 17,450 shares in the company, valued at approximately $2,914,324.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.12% of the company’s stock.

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.