Willdan Group (NASDAQ:WLDN) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Willdan Group (NASDAQ:WLDN) issued its earnings results on Thursday. The construction company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.15, Zacks reports. Willdan Group had a net margin of 2.44% and a return on equity of 10.62%. The business had revenue of $141.00 million for the quarter, compared to analysts’ expectations of $123.07 million. During the same quarter in the previous year, the firm posted $0.19 EPS. Willdan Group updated its FY 2024 guidance to 2.000-2.100 EPS and its FY24 guidance to $2.00-2.10 EPS.

Willdan Group Price Performance

NASDAQ WLDN traded up $3.82 during trading hours on Friday, hitting $37.00. 344,760 shares of the company’s stock traded hands, compared to its average volume of 66,300. Willdan Group has a 52-week low of $17.09 and a 52-week high of $38.25. The company has a market capitalization of $511.34 million, a PE ratio of 39.85 and a beta of 1.38. The firm’s 50-day moving average is $31.17 and its 200-day moving average is $27.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.79 and a quick ratio of 1.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Willdan Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. Wedbush reaffirmed an “outperform” rating and set a $35.00 price target on shares of Willdan Group in a report on Monday, May 6th. Finally, Roth Mkm upped their price objective on Willdan Group from $34.00 to $47.00 and gave the stock a “buy” rating in a report on Friday.

Insider Activity

In other Willdan Group news, Director Thomas Donald Brisbin sold 7,347 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $32.01, for a total transaction of $235,177.47. Following the sale, the director now owns 413,908 shares in the company, valued at approximately $13,249,195.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Thomas Donald Brisbin sold 7,347 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $32.01, for a total transaction of $235,177.47. Following the transaction, the director now directly owns 413,908 shares of the company’s stock, valued at approximately $13,249,195.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Fund L.P. Forager sold 1,799 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $32.32, for a total transaction of $58,143.68. Following the completion of the sale, the insider now owns 1,522,895 shares in the company, valued at $49,219,966.40. The disclosure for this sale can be found here. Insiders sold a total of 323,642 shares of company stock valued at $9,959,288 in the last 90 days. Company insiders own 9.80% of the company’s stock.

About Willdan Group

Willdan Group, Inc, together with its subsidiaries, provides professional, technical, and consulting services primarily in the United States. It operates in two segments, Energy, and Engineering and Consulting. The Energy segment offers comprehensive audit and surveys, program design and implementation, master planning, demand reduction, grid optimization, benchmarking analyses, design engineering, construction management, performance contracting, installation, alternative financing, measurement and verification services, and software and data analytics, as well as energy consulting and engineering, turnkey facility and infrastructure projects, and customer support services.