Woodward (NASDAQ:WWD) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Woodward (NASDAQ:WWD) posted its quarterly earnings results on Sunday. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.80 by $0.24, MarketWatch Earnings reports. The business had revenue of $581.32 million during the quarter, compared to analyst estimates of $573.50 million. Woodward had a net margin of 9.25% and a return on equity of 15.51%. The company’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 EPS.

Woodward stock traded up $0.56 during midday trading on Tuesday, hitting $125.10. 5,204 shares of the stock were exchanged, compared to its average volume of 261,983. Woodward has a fifty-two week low of $50.50 and a fifty-two week high of $127.91. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.84 and a beta of 1.51. The stock’s 50-day simple moving average is $122.66 and its 200 day simple moving average is $114.40. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.38.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Tuesday, May 18th will be given a dividend of $0.162 per share. This represents a $0.65 annualized dividend and a yield of 0.52%. The ex-dividend date is Monday, May 17th. Woodward’s payout ratio is currently 13.32%.

Several analysts have weighed in on WWD shares. Credit Suisse Group boosted their target price on shares of Woodward from $147.00 to $151.00 and gave the stock an “outperform” rating in a research report on Tuesday. Truist raised shares of Woodward from a “sell” rating to a “hold” rating and upped their price objective for the company from $70.00 to $101.00 in a report on Monday, January 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $100.13.

In other Woodward news, Director John D. Cohn sold 2,253 shares of the firm’s stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $114.02, for a total transaction of $256,887.06. Following the sale, the director now owns 22,253 shares of the company’s stock, valued at $2,537,287.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas A. Gendron sold 5,075 shares of the firm’s stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $116.00, for a total transaction of $588,700.00. Following the sale, the chief executive officer now directly owns 5,075 shares in the company, valued at approximately $588,700. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,604 shares of company stock valued at $25,151,523. 4.20% of the stock is currently owned by insiders.

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 offers 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, servo controls, and motors and sensors for aircraft that are used on commercial and private aircraft and rotorcraft, as well as on military fixed-wing aircraft and rotorcraft, guided weapons, and other defense systems.

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Earnings History for Woodward (NASDAQ:WWD)

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