FY2019 Earnings Forecast for Woodward Inc Issued By SunTrust Banks (WWD)

Woodward Inc (NASDAQ:WWD) – Equities researchers at SunTrust Banks raised their FY2019 EPS estimates for shares of Woodward in a research note issued to investors on Monday, Zacks Investment Research reports. SunTrust Banks analyst M. Ciarmoli now forecasts that the technology company will earn $4.63 per share for the year, up from their previous forecast of $4.27. SunTrust Banks currently has a “Hold” rating and a $77.00 target price on the stock.

Woodward (NASDAQ:WWD) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $606.79 million during the quarter, compared to the consensus estimate of $596.99 million. Woodward had a return on equity of 15.55% and a net margin of 9.55%. Woodward’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share.

A number of other analysts also recently issued reports on WWD. BidaskClub upgraded Woodward from a “hold” rating to a “buy” rating in a research report on Saturday, September 23rd. Zacks Investment Research upgraded Woodward from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Wood & Company downgraded Woodward from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 26th. Oppenheimer reiterated a “market perform” rating and set a $82.00 target price on shares of Woodward in a research report on Thursday, October 26th. Finally, Cowen reiterated a “hold” rating and set a $62.00 target price on shares of Woodward in a research report on Thursday, November 9th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $79.25.

Shares of Woodward (NASDAQ WWD) traded down $2.62 on Tuesday, reaching $80.79. The company had a trading volume of 327,550 shares, compared to its average volume of 382,310. The company has a market capitalization of $5,030.00, a P/E ratio of 25.57, a PEG ratio of 2.02 and a beta of 1.24. Woodward has a 12 month low of $65.22 and a 12 month high of $84.23. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.28 and a current ratio of 2.39.

In other news, Director Mary L. Petrovich sold 5,700 shares of Woodward stock in a transaction on Monday, November 13th. The stock was sold at an average price of $79.69, for a total transaction of $454,233.00. Following the completion of the sale, the director now directly owns 27,904 shares in the company, valued at $2,223,669.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.17% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Advisor Group Inc. increased its stake in shares of Woodward by 9.8% during the second quarter. Advisor Group Inc. now owns 1,654 shares of the technology company’s stock valued at $112,000 after buying an additional 147 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Woodward by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,190 shares of the technology company’s stock valued at $148,000 after buying an additional 190 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of Woodward during the third quarter valued at $203,000. CAPROCK Group Inc. purchased a new position in shares of Woodward during the third quarter valued at $222,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Woodward by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 3,115 shares of the technology company’s stock valued at $211,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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About Woodward

Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.

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