Willdan Group (NASDAQ:WLDN) Updates FY 2024 Earnings Guidance

Willdan Group (NASDAQ:WLDN) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 1.800-1.870 for the period, compared to the consensus earnings per share estimate of 1.810. The company issued revenue guidance of $270.0 million-$280.0 million, compared to the consensus revenue estimate of $277.5 million.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wedbush raised their target price on Willdan Group from $30.00 to $35.00 and gave the stock an outperform rating in a research note on Monday, March 25th. Roth Mkm reiterated a buy rating and set a $34.00 price target (up previously from $27.00) on shares of Willdan Group in a research report on Friday, March 22nd. Finally, StockNews.com downgraded Willdan Group from a strong-buy rating to a buy rating in a research report on Saturday, March 16th.

Willdan Group Stock Performance

Shares of NASDAQ WLDN opened at $31.29 on Monday. The stock has a market cap of $432.43 million, a price-to-earnings ratio of 33.65 and a beta of 1.47. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.45. Willdan Group has a 1-year low of $14.10 and a 1-year high of $32.66. The stock’s 50-day moving average is $26.50 and its 200 day moving average is $22.19.

Willdan Group (NASDAQ:WLDN) last announced its quarterly earnings results on Thursday, March 7th. The construction company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.37. Willdan Group had a return on equity of 10.80% and a net margin of 2.44%. The business had revenue of $155.68 million for the quarter, compared to analysts’ expectations of $160.00 million. During the same period in the previous year, the firm earned $0.25 EPS. On average, sell-side analysts anticipate that Willdan Group will post 1.5 EPS for the current fiscal year.

Insider Transactions at Willdan Group

In related news, major shareholder Fund L.P. Forager sold 86,483 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $31.25, for a total transaction of $2,702,593.75. Following the completion of the sale, the insider now owns 1,641,258 shares in the company, valued at $51,289,312.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 147,147 shares of company stock worth $4,462,997 over the last quarter. 9.80% of the stock is currently owned by insiders.

About Willdan Group

Willdan Group, Inc, together with its subsidiaries, provides professional, technical, and consulting services primarily in the United States. It operates in two segments, Energy, and Engineering and Consulting. The Energy segment offers comprehensive audit and surveys, program design and implementation, master planning, demand reduction, grid optimization, benchmarking analyses, design engineering, construction management, performance contracting, installation, alternative financing, measurement and verification services, and software and data analytics, as well as energy consulting and engineering, turnkey facility and infrastructure projects, and customer support services.