Woodward (NASDAQ:WWD) Releases FY24 Earnings Guidance

Woodward (NASDAQ:WWD) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.80-6.00 for the period, compared to the consensus estimate of $5.99. The company issued revenue guidance of $3.25-3.30 billion, compared to the consensus revenue estimate of $3.31 billion. Woodward also updated its FY 2024 guidance to 5.800-6.000 EPS.

Analyst Ratings Changes

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

Woodward Price Performance

Shares of Woodward stock traded up $0.06 during midday trading on Monday, hitting $183.19. 589,553 shares of the company were exchanged, compared to its average volume of 402,046. 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 firm has a market cap of $11.16 billion, a P/E ratio of 32.03, a PEG ratio of 1.89 and a beta of 1.37. Woodward has a 52 week low of $119.03 and a 52 week high of $188.35. The firm has a 50 day simple moving average of $180.48 and a 200-day simple moving average of $159.98.

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

Woodward Dividend Announcement

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

Insiders Place Their Bets

In other Woodward news, Director Gregg C. Sengstack sold 6,000 shares of Woodward stock in a transaction dated 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 directly owns 17,450 shares in the company, valued at $2,914,324.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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.