Woodward (NASDAQ:WWD) Updates FY 2024 Earnings Guidance

Woodward (NASDAQ:WWD) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.700-6.000 for the period, compared to the consensus 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 Performance

WWD stock traded up $0.49 during trading on Monday, hitting $151.07. 1,212,599 shares of the company traded hands, compared to its average volume of 383,503. The stock’s 50-day simple moving average is $147.74 and its 200 day simple moving average is $138.52. Woodward has a 1 year low of $95.60 and a 1 year high of $160.79. The company has a market cap of $9.11 billion, a PE ratio of 31.87, a P/E/G ratio of 1.84 and a beta of 1.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.65 and a quick ratio of 1.69.

Woodward (NASDAQ:WWD) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. On average, equities analysts expect that Woodward will post 5.27 earnings per share for the current fiscal year.

Woodward Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WWD shares. Truist Financial boosted their target price on shares of Woodward from $136.00 to $143.00 and gave the company a hold rating in a report on Tuesday, January 30th. Alembic Global Advisors cut Woodward from an overweight rating to a neutral rating and set a $148.00 target price for the company. in a research note on Thursday, February 1st. UBS Group upped their price objective on shares of Woodward from $168.00 to $177.00 and gave the company a buy rating in a research note on Tuesday, January 30th. The Goldman Sachs Group raised their price objective on Woodward from $159.00 to $201.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Woodward from $165.00 to $174.00 and gave the company a buy rating in a report on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $158.22.

Insiders Place Their Bets

In related news, COO Thomas G. Cromwell sold 38,700 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 11,833 shares of the company’s stock, valued at $1,680,049.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Christopher Fawzy sold 11,000 shares of the 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 completion of the transaction, the executive vice president now owns 4,836 shares of the company’s stock, valued at $677,040. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas G. Cromwell sold 38,700 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 11,833 shares of the company’s stock, valued at approximately $1,680,049.34. The disclosure for this sale can be found here. Insiders have sold a total of 51,200 shares of company stock valued at $7,242,916 over the last quarter. 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.