Woodward (NASDAQ:WWD) Releases Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Woodward (NASDAQ:WWD) released its quarterly earnings data on Monday. The technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.34, Briefing.com reports. Woodward had a return on equity of 15.26% and a net margin of 9.50%. The company had revenue of $835.34 million for the quarter, compared to analyst estimates of $807.04 million. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was up 16.3% compared to the same quarter last year. Woodward updated its FY24 guidance to $5.70-6.00 EPS and its FY 2024 guidance to 5.700-6.000 EPS.

Woodward Stock Up 0.3 %

NASDAQ:WWD opened at $151.07 on Tuesday. The stock’s fifty day moving average price is $148.01 and its two-hundred day moving average price is $138.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 2.65. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 1.84 and a beta of 1.36. Woodward has a 52-week low of $95.60 and a 52-week high of $160.79.

Woodward Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be issued 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 is 21.10%.

Insider Activity

In other news, COO Thomas G. Cromwell sold 38,700 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 11,833 shares of the company’s stock, valued at approximately $1,680,049.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Christopher Fawzy sold 11,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were 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 owns 4,836 shares in the company, valued at approximately $677,040. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas G. Cromwell sold 38,700 shares of the company’s stock in a transaction on Friday, March 1st. The shares were 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 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 in the last 90 days. 1.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on Woodward from $134.00 to $140.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Alembic Global Advisors lowered Woodward from an “overweight” rating to a “neutral” rating and set a $148.00 price objective on the stock. in a research note on Thursday, February 1st. Truist Financial upped their price objective on Woodward from $143.00 to $152.00 and gave the company a “hold” rating in a research note on Tuesday. Wells Fargo & Company upped their price objective on Woodward from $151.00 to $156.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Finally, StockNews.com lowered Woodward from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Woodward has an average rating of “Moderate Buy” and an average price target of $159.22.

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.