Woodward (NASDAQ:WWD) Updates FY 2024 Earnings Guidance

Woodward (NASDAQ:WWD) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 5.700-6.000 for the period, compared to the consensus earnings per share estimate of 5.360. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.2 billion. Woodward also updated its FY24 guidance to $5.70-6.00 EPS.

Woodward Stock Up 0.3 %

WWD traded up $0.49 during trading on Monday, reaching $151.07. 1,212,218 shares of the stock traded hands, compared to its average volume of 383,503. The stock has a market cap 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. Woodward has a fifty-two week low of $95.60 and a fifty-two week high of $160.79. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.65 and a quick ratio of 1.69. The stock’s 50-day simple moving average is $147.74 and its two-hundred day simple moving average is $138.52.

Woodward (NASDAQ:WWD) last released its quarterly earnings data on Monday, January 29th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $786.73 million during the quarter, compared to analysts’ expectations of $750.13 million. Woodward had a return on equity of 15.26% and a net margin of 9.50%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, equities research analysts expect that Woodward will post 5.27 EPS for the current year.

Woodward Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be given a $0.25 dividend. 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 is currently 21.10%.

Analyst Ratings Changes

WWD has been the subject of a number of analyst reports. StockNews.com cut Woodward from a strong-buy rating to a buy rating in a research report on Friday, February 2nd. Alembic Global Advisors lowered Woodward from an overweight rating to a neutral rating and set a $148.00 price objective on the stock. in a research note on Thursday, February 1st. Barclays lifted their price objective on Woodward from $134.00 to $140.00 and gave the stock an equal weight rating in a research note on Tuesday, February 6th. Truist Financial lifted their price objective on Woodward from $136.00 to $143.00 and gave the stock a hold rating in a research note on Tuesday, January 30th. Finally, UBS Group lifted their price objective on Woodward from $168.00 to $177.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $158.22.

Insider Transactions at Woodward

In other news, Director John D. Cohn sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $138.86, for a total value of $208,290.00. Following the transaction, the director now directly owns 20,531 shares of the company’s stock, valued at approximately $2,850,934.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John D. Cohn sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $138.86, for a total value of $208,290.00. Following the transaction, the director now directly owns 20,531 shares of the company’s stock, valued at approximately $2,850,934.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher Fawzy sold 11,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $140.00, for a total value of $1,540,000.00. Following the transaction, the executive vice president now directly owns 4,836 shares in the company, valued at approximately $677,040. The disclosure for this sale can be found here. Insiders have sold 51,200 shares of company stock valued at $7,242,916 in the last three months. 1.12% of the stock is owned by corporate insiders.

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.