Woodward (NASDAQ:WWD) Issues FY24 Earnings Guidance

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

A number of equities research analysts have weighed in on WWD shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Woodward from $165.00 to $174.00 and gave the company a buy rating in a report on Tuesday, January 30th. StockNews.com lowered Woodward from a strong-buy rating to a buy rating in a report on Friday, February 2nd. Wells Fargo & Company raised their target price on Woodward from $151.00 to $156.00 and gave the company an equal weight rating in a report on Thursday, April 4th. UBS Group upped their price target on shares of Woodward from $168.00 to $177.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group increased their price target on shares of Woodward from $159.00 to $201.00 and gave the company a buy rating in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Woodward has a consensus rating of Moderate Buy and a consensus price target of $158.22.

Woodward Stock Up 0.3 %

Woodward stock opened at $151.07 on Tuesday. Woodward has a fifty-two week low of $95.60 and a fifty-two week high of $160.79. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. The stock’s fifty day moving average is $147.74 and its two-hundred day moving average is $138.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 2.65.

Woodward (NASDAQ:WWD) last posted its earnings results on Monday, January 29th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The firm had revenue of $786.73 million during the quarter, compared to the consensus estimate of $750.13 million. Woodward had a net margin of 9.50% and a return on equity of 15.26%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. Analysts predict that Woodward will post 5.27 EPS for the current fiscal year.

Woodward Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. Woodward’s dividend payout ratio (DPR) is 21.10%.

Insider Activity at Woodward

In related news, COO Thomas G. Cromwell sold 38,700 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $141.98, for a total transaction of $5,494,626.00. Following the sale, the chief operating officer now owns 11,833 shares of the company’s stock, valued at $1,680,049.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Woodward news, EVP Christopher Fawzy sold 11,000 shares of Woodward stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $140.00, for a total value of $1,540,000.00. Following the completion of the sale, the executive vice president now directly owns 4,836 shares of the company’s stock, valued at approximately $677,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas G. Cromwell sold 38,700 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $141.98, for a total value of $5,494,626.00. Following the transaction, the chief operating officer now directly owns 11,833 shares in the company, valued at approximately $1,680,049.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,200 shares of company stock valued at $7,242,916. 1.12% of the stock is owned by corporate insiders.

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.