Brokers Offer Predictions for Woodward, Inc.’s FY2022 Earnings (NASDAQ:WWD)

Woodward, Inc. (NASDAQ:WWDGet Rating) – Equities research analysts at William Blair decreased their FY2022 earnings per share (EPS) estimates for Woodward in a note issued to investors on Tuesday, August 2nd. William Blair analyst N. Heymann now anticipates that the technology company will post earnings of $2.65 per share for the year, down from their previous forecast of $3.40. The consensus estimate for Woodward’s current full-year earnings is $2.68 per share. William Blair also issued estimates for Woodward’s Q4 2022 earnings at $0.73 EPS and FY2023 earnings at $3.75 EPS.

Several other analysts have also issued reports on WWD. Wells Fargo & Company cut their price target on Woodward from $117.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday. Cowen cut their price target on Woodward from $130.00 to $125.00 in a report on Tuesday, May 3rd. Truist Financial lowered Woodward from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $121.00 to $88.00 in a research note on Tuesday. Finally, Cowen dropped their price objective on Woodward from $130.00 to $125.00 in a research note on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $114.29.

Woodward Stock Performance

NASDAQ:WWD opened at $95.23 on Thursday. The stock has a 50-day simple moving average of $95.21 and a two-hundred day simple moving average of $107.80. Woodward has a 52-week low of $87.43 and a 52-week high of $129.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.29 and a current ratio of 2.95. The firm has a market capitalization of $6.01 billion, a PE ratio of 36.49, a P/E/G ratio of 2.64 and a beta of 1.48.

Woodward (NASDAQ:WWDGet Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.27). Woodward had a net margin of 7.24% and a return on equity of 8.38%. The company had revenue of $614.33 million for the quarter, compared to the consensus estimate of $625.04 million. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Monday, August 15th will be given a $0.19 dividend. The ex-dividend date is Friday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.80%. Woodward’s dividend payout ratio is currently 29.12%.

Insider Buying and Selling

In other news, CEO Charles P. Blankenship bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average cost of $94.97 per share, for a total transaction of $47,485.00. Following the completion of the transaction, the chief executive officer now owns 37,100 shares of the company’s stock, valued at $3,523,387. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Paul Donovan acquired 1,100 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average cost of $92.46 per share, for a total transaction of $101,706.00. Following the completion of the transaction, the director now directly owns 1,100 shares in the company, valued at approximately $101,706. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles P. Blankenship acquired 500 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average price of $94.97 per share, for a total transaction of $47,485.00. Following the completion of the transaction, the chief executive officer now owns 37,100 shares of the company’s stock, valued at $3,523,387. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,500 shares of company stock worth $237,861. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Woodward

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Woodward by 15.4% in the first quarter. BlackRock Inc. now owns 5,749,193 shares of the technology company’s stock worth $718,131,000 after buying an additional 768,984 shares during the period. State Street Corp raised its holdings in shares of Woodward by 41.1% in the first quarter. State Street Corp now owns 2,134,296 shares of the technology company’s stock worth $266,595,000 after buying an additional 621,559 shares during the period. Cooke & Bieler LP raised its holdings in shares of Woodward by 9.6% in the second quarter. Cooke & Bieler LP now owns 1,759,615 shares of the technology company’s stock worth $162,746,000 after buying an additional 153,721 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Woodward by 1.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,445,893 shares of the technology company’s stock worth $158,267,000 after buying an additional 18,752 shares during the period. Finally, Ceredex Value Advisors LLC raised its holdings in shares of Woodward by 9.1% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,025,143 shares of the technology company’s stock worth $112,212,000 after buying an additional 85,343 shares during the period. 80.05% of the stock is currently owned by hedge funds and other institutional investors.

About Woodward

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Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through 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.

Further Reading

Earnings History and Estimates for Woodward (NASDAQ:WWD)

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