Woodward (NASDAQ:WWD) Announces Earnings Results

Woodward (NASDAQ:WWD) posted its earnings results on Monday. The technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.34, Briefing.com reports. The company had revenue of $835.34 million for the quarter, compared to analyst estimates of $807.04 million. Woodward had a return on equity of 15.26% and a net margin of 9.50%. Woodward’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. Woodward updated its FY24 guidance to $5.70-6.00 EPS and its FY 2024 guidance to 5.700-6.000 EPS.

Woodward Stock Performance

Shares of WWD stock opened at $151.07 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.65 and a quick ratio of 1.69. The company’s fifty day moving average price is $147.74 and its two-hundred day moving average price is $138.52. The firm has a market capitalization of $9.11 billion, a P/E ratio of 31.87, a P/E/G ratio of 1.84 and a beta of 1.36. Woodward has a 12 month low of $95.60 and a 12 month high of $160.79.

Woodward Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. Woodward’s dividend payout ratio (DPR) is presently 21.10%.

Insider Transactions at Woodward

In other Woodward news, Director John D. Cohn sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 20,531 shares of the company’s stock, valued at approximately $2,850,934.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Thomas G. Cromwell sold 38,700 shares of Woodward stock in a transaction dated Friday, March 1st. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Cohn sold 1,500 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were 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 directly owns 20,531 shares of the company’s stock, valued at $2,850,934.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,200 shares of company stock valued at $7,242,916. 1.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Woodward from $151.00 to $156.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Woodward from $165.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Alembic Global Advisors downgraded shares of Woodward from an “overweight” rating to a “neutral” rating and set a $148.00 price target for the company. in a report on Thursday, February 1st. Barclays lifted 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. Finally, UBS Group raised their price target on Woodward from $168.00 to $177.00 and gave the stock 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $159.22.

About Woodward

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.