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 (EPS) guidance of 5.800-6.000 for the period, compared to the consensus estimate of 5.980. The company issued revenue guidance of $3.3 billion-$3.3 billion, compared to the consensus revenue estimate of $3.3 billion. Woodward also updated its FY24 guidance to $5.80-6.00 EPS.

Woodward Price Performance

NASDAQ WWD traded up $0.06 during mid-day trading on Monday, hitting $183.19. The stock had a trading volume of 578,961 shares, compared to its average volume of 402,046. The firm’s 50 day moving average is $180.48 and its 200 day moving average is $159.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.62 and a quick ratio of 1.78. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.89 and a beta of 1.37. Woodward has a twelve month low of $119.03 and a twelve month high of $188.35.

Woodward (NASDAQ:WWD) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.34. Woodward had a net margin of 11.09% and a return on equity of 16.50%. The company had revenue of $835.34 million during the quarter, compared to analysts’ expectations of $807.04 million. During the same quarter in the prior year, the company earned $1.01 EPS. Woodward’s revenue was up 16.3% compared to the same quarter last year. Equities research analysts forecast that Woodward will post 5.88 earnings per share for the current fiscal year.

Woodward Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, August 22nd. Woodward’s dividend payout ratio (DPR) is presently 17.48%.

Analysts Set New Price Targets

Several brokerages have weighed in on WWD. Barclays increased their target price on shares of Woodward from $140.00 to $175.00 and gave the stock an equal weight rating in a research note on Monday, May 6th. Wells Fargo & Company boosted their target price on Woodward from $156.00 to $172.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. The Goldman Sachs Group lifted their price objective on Woodward from $159.00 to $201.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Truist Financial increased their target price on Woodward from $143.00 to $152.00 and gave the stock a hold rating in a research note on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Woodward from $200.00 to $210.00 and gave the company a buy rating in a research report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Woodward has an average rating of Moderate Buy and a consensus target price of $174.38.

Insider Transactions at Woodward

In other Woodward news, Director Gregg C. Sengstack sold 6,000 shares of Woodward stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $167.01, for a total transaction of $1,002,060.00. Following the transaction, the director now owns 17,450 shares of the company’s stock, valued at $2,914,324.50. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.