Woodward (NASDAQ:WWD) Issues FY 2024 Earnings Guidance

Woodward (NASDAQ:WWD) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 5.800-6.000 for the period, compared to the consensus EPS estimate of 5.980. The company issued revenue guidance of $3.3 billion-$3.3 billion, compared to the consensus revenue estimate of $3.3 billion. Woodward also updated its FY24 guidance to $5.80-6.00 EPS.

Woodward Stock Down 18.2 %

NASDAQ:WWD traded down $33.34 during trading hours on Tuesday, hitting $149.85. 1,348,279 shares of the company’s stock traded hands, compared to its average volume of 407,988. The firm has a market cap of $9.13 billion, a P/E ratio of 26.94, a P/E/G ratio of 1.89 and a beta of 1.37. Woodward has a twelve month low of $119.03 and a twelve month high of $188.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.78 and a current ratio of 2.62. The stock’s fifty day moving average price is $180.52 and its two-hundred day moving average price is $160.30.

Woodward (NASDAQ:WWD) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. The firm had revenue of $847.69 million for the quarter, compared to analyst estimates of $853.29 million. Woodward had a return on equity of 16.50% and a net margin of 11.09%. Woodward’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 earnings per share. On average, research analysts expect that Woodward will post 5.88 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, August 22nd. Woodward’s payout ratio is 17.48%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays boosted 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 target price on Woodward from $159.00 to $201.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Truist Financial boosted their target price on Woodward from $143.00 to $152.00 and gave the company a hold rating in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their target price on Woodward from $156.00 to $172.00 and gave the company an equal weight rating in a research note on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Woodward from $200.00 to $210.00 and gave the company a buy rating in a research note on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $174.38.

Insider Transactions at Woodward

In related news, Director Gregg C. Sengstack sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $167.01, for a total transaction of $1,002,060.00. Following the completion of the sale, the director now owns 17,450 shares in the company, valued at approximately $2,914,324.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.12% of the stock is currently owned by corporate 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.