Woodward (NASDAQ:WWD) Releases FY 2024 Earnings Guidance

Woodward (NASDAQ:WWD) issued an update on its FY 2024 earnings guidance on Monday morning. 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.

Analyst Ratings Changes

WWD has been the subject of several research reports. UBS Group upped their price objective on shares of Woodward from $168.00 to $177.00 and gave the stock a buy rating in a report on Tuesday, January 30th. StockNews.com downgraded shares of Woodward from a strong-buy rating to a buy rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Woodward from $182.00 to $200.00 and gave the company a buy rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on shares of Woodward from $159.00 to $201.00 and gave the company a buy rating in a report on Tuesday, April 16th. Finally, 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 report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $163.89.

Woodward Trading Up 0.6 %

WWD traded up $1.04 on Thursday, hitting $166.90. The company had a trading volume of 137,111 shares, compared to its average volume of 395,989. The firm has a market cap of $10.06 billion, a P/E ratio of 29.00, a PEG ratio of 1.78 and a beta of 1.31. Woodward has a 1 year low of $105.18 and a 1 year high of $169.99. The company’s fifty day moving average price is $149.06 and its 200 day moving average price is $139.10. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.28.

Woodward (NASDAQ:WWD) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $1.62 EPS for the quarter, topping 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 company posted $1.01 earnings per share. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities analysts expect that Woodward will post 5.85 earnings per share for the current year.

Woodward Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Tuesday, May 21st. Woodward’s dividend payout ratio (DPR) is presently 17.48%.

Insider Buying and Selling

In other Woodward news, COO Thomas G. Cromwell sold 38,700 shares of the company’s stock in a transaction on 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 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 can be accessed through the SEC website. In related news, COO Thomas G. Cromwell sold 38,700 shares of the 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 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher Fawzy sold 11,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $140.00, for a total value of $1,540,000.00. Following the transaction, the executive vice president now owns 4,836 shares in the company, valued at $677,040. The disclosure for this sale can be found here. Insiders have sold 51,200 shares of company stock valued at $7,242,916 over the last quarter. Company 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.