Woodward (NASDAQ:WWD) Issues 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 5.700-6.000 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WWD shares. Barclays increased their price objective on shares of Woodward from $134.00 to $140.00 and gave the stock an equal weight rating in a research report on Tuesday, February 6th. Wells Fargo & Company upped their price target on Woodward from $156.00 to $172.00 and gave the stock an equal weight rating in a research note on Tuesday. StockNews.com cut Woodward from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft increased their target price on Woodward from $165.00 to $174.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. Finally, UBS Group raised their target price on Woodward from $168.00 to $177.00 and gave the company a buy rating in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Woodward currently has a consensus rating of Moderate Buy and a consensus target price of $161.00.

Woodward Stock Up 8.4 %

WWD traded up $12.65 on Tuesday, hitting $163.72. 568,565 shares of the company were exchanged, compared to its average volume of 385,130. The firm has a 50-day moving average price of $148.01 and a two-hundred day moving average price of $138.67. The company has a current ratio of 2.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.30. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. Woodward has a twelve month low of $95.60 and a twelve month high of $169.99.

Woodward (NASDAQ:WWD) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.34. The business had revenue of $835.34 million during the quarter, compared to the consensus estimate of $807.04 million. Woodward had a net margin of 9.50% and a return on equity of 15.26%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. On average, equities analysts predict that Woodward will post 5.27 earnings per share for the current year.

Woodward Dividend Announcement

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 paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. Woodward’s dividend payout ratio (DPR) is 21.10%.

Insider Activity at Woodward

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

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.