Woodward (NASDAQ:WWD) Issues FY24 Earnings Guidance

Woodward (NASDAQ:WWD) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $5.70-6.00 for the period, compared to the consensus estimate of $5.37. The company issued revenue guidance of $3.25-3.35 billion, compared to the consensus revenue estimate of $3.24 billion. Woodward also updated its FY 2024 guidance to 5.700-6.000 EPS.

Wall Street Analyst Weigh In

WWD has been the topic of several research reports. Barclays boosted their price objective on shares of Woodward from $134.00 to $140.00 and gave the stock an equal weight rating in a research note on Tuesday, February 6th. The Goldman Sachs Group upped their price target on Woodward from $159.00 to $201.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Alembic Global Advisors lowered Woodward from an overweight rating to a neutral rating and set a $148.00 price objective for the company. in a research report on Thursday, February 1st. Wells Fargo & Company boosted their target price on Woodward from $151.00 to $156.00 and gave the stock an equal weight rating in a report on Thursday, April 4th. Finally, StockNews.com downgraded Woodward from a strong-buy rating to a buy rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Woodward has an average rating of Moderate Buy and an average target price of $158.22.

Woodward Stock Up 0.3 %

WWD stock opened at $151.07 on Tuesday. The business’s 50-day moving average price is $147.74 and its 200-day moving average price is $138.52. The stock has a market cap of $9.11 billion, a P/E ratio of 31.87, a PEG ratio of 1.84 and a beta of 1.36. The company has a quick ratio of 1.69, a current ratio of 2.65 and a debt-to-equity ratio of 0.30. Woodward has a twelve month low of $95.60 and a twelve month high of $160.79.

Woodward (NASDAQ:WWD) last announced its quarterly earnings data on Monday, January 29th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. Woodward had a net margin of 9.50% and a return on equity of 15.26%. The firm had revenue of $786.73 million during the quarter, compared to analysts’ expectations of $750.13 million. During the same period in the prior year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities research analysts forecast that Woodward will post 5.27 EPS for the current year.

Woodward Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. Woodward’s dividend payout ratio is presently 21.10%.

Insider Activity at Woodward

In related news, COO Thomas G. Cromwell sold 38,700 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 11,833 shares of the company’s stock, valued at $1,680,049.34. The sale was disclosed in a filing with the SEC, which is available through this link. In other Woodward news, Director John D. Cohn sold 1,500 shares of the firm’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 owns 20,531 shares of the company’s stock, valued at $2,850,934.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the chief operating officer now directly owns 11,833 shares in the company, valued at approximately $1,680,049.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,200 shares of company stock valued at $7,242,916. Corporate insiders own 1.12% of the company’s stock.

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.