Woodward (NASDAQ:WWD) Issues FY 2024 Earnings Guidance

Woodward (NASDAQ:WWD) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 5.800-6.000 for the period, compared to the consensus EPS estimate of 5.980. The company issued revenue guidance of $3.3 billion-$3.3 billion, compared to the consensus revenue estimate of $3.3 billion. Woodward also updated its FY24 guidance to $5.80-6.00 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WWD. Barclays upped their price target on Woodward from $140.00 to $175.00 and gave the company an equal weight rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Woodward from $200.00 to $210.00 and gave the company a buy rating in a report on Tuesday, May 28th. Truist Financial increased their price objective on Woodward from $143.00 to $152.00 and gave the company a hold rating in a report on Tuesday, April 30th. The Goldman Sachs Group increased their price objective on Woodward from $159.00 to $201.00 and gave the company a buy rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company increased their price objective on Woodward from $156.00 to $172.00 and gave the company an equal weight rating in a report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $174.38.

Woodward Price Performance

NASDAQ:WWD traded down $33.34 during trading hours on Tuesday, hitting $149.85. The company’s stock had a trading volume of 1,348,279 shares, compared to its average volume of 407,988. The business’s 50-day moving average is $180.52 and its two-hundred day moving average is $160.30. The company has a market capitalization of $9.13 billion, a PE ratio of 26.94, a PEG ratio of 1.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.78 and a current ratio of 2.62. Woodward has a 52-week low of $119.03 and a 52-week high of $188.35.

Woodward (NASDAQ:WWD) last released its quarterly earnings data on Monday, July 29th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.11. The firm had revenue of $847.69 million during the quarter, compared to analysts’ expectations of $853.29 million. Woodward had a return on equity of 16.50% and a net margin of 11.09%. Woodward’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. As a group, research analysts anticipate that Woodward will post 5.88 EPS for the current fiscal year.

Woodward Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, August 22nd. Woodward’s payout ratio is 17.48%.

Insider Activity

In other news, Director Gregg C. Sengstack sold 6,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $167.01, for a total value of $1,002,060.00. Following the completion of the transaction, the director now owns 17,450 shares in the company, valued at $2,914,324.50. The sale was disclosed in a document filed with the SEC, which is available at this link. 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.