Woodward (NASDAQ:WWD) Issues Earnings Results

Woodward (NASDAQ:WWD) issued its earnings results on Monday. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11, Briefing.com reports. The business had revenue of $847.69 million during the quarter, compared to analysts’ expectations of $853.29 million. Woodward had a return on equity of 17.09% and a net margin of 11.47%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. Woodward updated its FY24 guidance to $5.80-6.00 EPS and its FY 2024 guidance to 5.800-6.000 EPS.

Woodward Stock Up 3.3 %

Shares of WWD traded up $4.95 during midday trading on Wednesday, hitting $156.68. The company had a trading volume of 479,312 shares, compared to its average volume of 420,657. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.89 and a beta of 1.37. The company’s 50 day moving average price is $179.90 and its 200 day moving average price is $160.39. The company has a quick ratio of 1.78, a current ratio of 2.62 and a debt-to-equity ratio of 0.28. Woodward has a 52 week low of $119.03 and a 52 week high of $188.35.

Woodward Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, August 22nd. Woodward’s dividend payout ratio is currently 17.48%.

Insider Transactions at Woodward

In related news, Director Gregg C. Sengstack sold 6,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 17,450 shares of the company’s stock, valued at $2,914,324.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Woodward from $228.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays upped their price target on shares of Woodward from $140.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft lowered Woodward from a “buy” rating to a “hold” rating and cut their price objective for the company from $197.00 to $158.00 in a research report on Wednesday. Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and upped their target price for the stock from $170.00 to $190.00 in a research report on Wednesday. Finally, TD Cowen dropped their target price on Woodward from $200.00 to $186.00 and set a “buy” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.22.

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 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.