Woodward (NASDAQ:WWD) Issues FY24 Earnings Guidance

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

Woodward Price Performance

Shares of NASDAQ WWD traded up $0.49 during trading on Monday, reaching $151.07. The company had a trading volume of 1,212,599 shares, compared to its average volume of 383,503. The stock has a 50-day moving average price of $147.74 and a two-hundred day moving average price of $138.52. Woodward has a twelve month low of $95.60 and a twelve month high of $160.79. The stock has a market capitalization of $9.11 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. The company has a current ratio of 2.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.30.

Woodward (NASDAQ:WWD) last issued its quarterly 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. Woodward had a return on equity of 15.26% and a net margin of 9.50%. The company had revenue of $786.73 million during the quarter, compared to the consensus estimate of $750.13 million. During the same period in the previous year, the firm posted $0.49 EPS. Woodward’s revenue was up 27.2% on a year-over-year basis. As a group, sell-side analysts predict that Woodward will post 5.27 earnings per share for the current year.

Woodward Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on WWD shares. Truist Financial boosted their price objective on shares of Woodward from $136.00 to $143.00 and gave the company a hold rating in a research note on Tuesday, January 30th. Wells Fargo & Company upped their price target on Woodward from $151.00 to $156.00 and gave the stock an equal weight rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Woodward from $165.00 to $174.00 and gave the company a buy rating in a research note on Tuesday, January 30th. UBS Group increased their target price on shares of Woodward from $168.00 to $177.00 and gave the stock a buy rating in a research report on Tuesday, January 30th. Finally, The Goldman Sachs Group lifted their price target on shares of Woodward from $159.00 to $201.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Woodward has a consensus rating of Moderate Buy and an average target price of $158.22.

Insider Activity

In related news, Director John D. Cohn sold 1,500 shares of the business’s stock in a transaction dated 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 owns 20,531 shares in the company, valued at $2,850,934.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director John D. Cohn sold 1,500 shares of Woodward stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $138.86, for a total value of $208,290.00. Following the completion of the sale, the director now owns 20,531 shares in the company, valued at $2,850,934.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Fawzy sold 11,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $140.00, for a total transaction of $1,540,000.00. Following the transaction, the executive vice president now owns 4,836 shares in the company, valued at $677,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,200 shares of company stock worth $7,242,916. 1.12% of the stock is currently owned by company 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.