Woodward (NASDAQ:WWD) Issues FY24 Earnings Guidance

Woodward (NASDAQ:WWD) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $5.70-6.00 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Woodward from $143.00 to $152.00 and gave the stock a hold rating in a research report on Tuesday. Wells Fargo & Company boosted their price target on Woodward from $156.00 to $172.00 and gave the stock an equal weight rating in a research report on Tuesday. StockNews.com lowered shares of Woodward from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Barclays lifted their price target on Woodward from $134.00 to $140.00 and gave the stock an equal weight rating in a research report on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Woodward from $182.00 to $200.00 and gave the stock a buy rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $163.89.

Woodward Stock Up 2.2 %

NASDAQ WWD opened at $165.86 on Thursday. Woodward has a 52 week low of $105.18 and a 52 week high of $169.99. The stock has a fifty day moving average of $148.50 and a 200-day moving average of $138.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.69 and a current ratio of 2.62. The stock has a market capitalization of $10.00 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.31.

Woodward (NASDAQ:WWD) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.34. 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 16.50% and a net margin of 11.09%. Woodward’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. On average, equities research analysts forecast that Woodward will post 5.85 EPS for the current year.

Woodward Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Tuesday, May 21st. Woodward’s dividend payout ratio (DPR) is presently 17.48%.

Insiders Place Their Bets

In related news, Director John D. Cohn sold 1,500 shares of the company’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 transaction, the director now directly owns 20,531 shares in the company, valued at $2,850,934.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Woodward news, Director John D. Cohn sold 1,500 shares of Woodward stock in a transaction 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher Fawzy sold 11,000 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 4,836 shares in the company, valued at $677,040. The disclosure for this sale can be found here. Insiders sold 51,200 shares of company stock worth $7,242,916 over the last three months. 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.