Woodward (NASDAQ:WWD) Updates FY 2022 Earnings Guidance

Woodward (NASDAQ:WWDGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.55-$2.75 for the period, compared to the consensus earnings per share estimate of $3.25. The company issued revenue guidance of $2.35 billion-$2.40 billion, compared to the consensus revenue estimate of $2.41 billion.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WWD. Wells Fargo & Company dropped their target price on Woodward from $117.00 to $100.00 and set an equal weight rating for the company in a research report on Tuesday. Truist Financial cut Woodward from a buy rating to a hold rating and decreased their price target for the stock from $121.00 to $88.00 in a research note on Tuesday. Cowen decreased their price target on Woodward from $130.00 to $125.00 in a research note on Tuesday, May 3rd. Finally, Cowen decreased their price target on Woodward from $130.00 to $125.00 in a research note on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $114.29.

Woodward Trading Up 1.6 %

Shares of WWD traded up $1.51 during mid-day trading on Friday, hitting $95.23. 476,347 shares of the company’s stock traded hands, compared to its average volume of 426,081. The company has a quick ratio of 2.29, a current ratio of 2.95 and a debt-to-equity ratio of 0.38. Woodward has a 1 year low of $87.43 and a 1 year high of $129.12. The firm has a market capitalization of $6.01 billion, a P/E ratio of 36.49, a PEG ratio of 2.64 and a beta of 1.48. The business’s 50-day moving average price is $95.21 and its 200-day moving average price is $107.80.

Woodward (NASDAQ:WWDGet Rating) last posted its earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.27). Woodward had a net margin of 7.24% and a return on equity of 8.38%. The business had revenue of $614.33 million for the quarter, compared to analysts’ expectations of $625.04 million. During the same period last year, the firm posted $0.74 earnings per share. Woodward’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Woodward will post 2.68 EPS for the current fiscal year.

Woodward Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 0.80%. Woodward’s dividend payout ratio (DPR) is presently 29.12%.

Insider Activity

In related news, insider Thomas A. Gendron sold 10,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $102.35, for a total value of $1,023,500.00. Following the sale, the insider now directly owns 32,000 shares of the company’s stock, valued at $3,275,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Thomas A. Gendron sold 10,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $102.35, for a total value of $1,023,500.00. Following the sale, the insider now directly owns 32,000 shares of the company’s stock, valued at $3,275,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles P. Blankenship purchased 400 shares of Woodward stock in a transaction that occurred on Thursday, May 19th. The stock was purchased at an average cost of $99.05 per share, for a total transaction of $39,620.00. Following the completion of the purchase, the chief executive officer now owns 36,100 shares of the company’s stock, valued at $3,575,705. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,500 shares of company stock valued at $237,861. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Woodward

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in shares of Woodward by 11.5% during the first quarter. American Century Companies Inc. now owns 6,324 shares of the technology company’s stock valued at $790,000 after purchasing an additional 653 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Woodward by 15.4% during the first quarter. BlackRock Inc. now owns 5,749,193 shares of the technology company’s stock valued at $718,131,000 after purchasing an additional 768,984 shares in the last quarter. APG Asset Management N.V. bought a new position in shares of Woodward during the first quarter valued at $516,000. Great West Life Assurance Co. Can lifted its holdings in shares of Woodward by 7.9% during the first quarter. Great West Life Assurance Co. Can now owns 34,401 shares of the technology company’s stock valued at $4,411,000 after purchasing an additional 2,520 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Woodward by 7.5% during the first quarter. Sei Investments Co. now owns 224,853 shares of the technology company’s stock valued at $28,088,000 after purchasing an additional 15,738 shares in the last quarter. 80.05% of the stock is owned by institutional investors.

About Woodward

(Get Rating)

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through 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.

See Also

Earnings History and Estimates for Woodward (NASDAQ:WWD)

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