Woodward (NASDAQ:WWD) Updates FY24 Earnings Guidance

Woodward (NASDAQ:WWD) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $5.80-6.00 for the period, compared to the consensus earnings per share 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.

Woodward Stock Performance

NASDAQ:WWD traded up $4.60 during mid-day trading on Wednesday, hitting $156.33. 375,482 shares of the stock were exchanged, compared to its average volume of 419,946. The firm’s 50-day simple moving average is $179.90 and its 200 day simple moving average is $160.39. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. Woodward has a fifty-two week low of $119.03 and a fifty-two week high of $188.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.78 and a current ratio of 2.62.

Woodward (NASDAQ:WWD) last announced its earnings results on Monday, July 29th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The company had revenue of $847.69 million during the quarter, compared to analysts’ expectations of $853.29 million. Woodward had a net margin of 11.47% and a return on equity of 17.09%. Woodward’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 earnings per share. As a group, equities analysts anticipate that Woodward will post 5.88 EPS for the current fiscal year.

Woodward Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, August 22nd. Woodward’s dividend payout ratio is presently 17.48%.

Analysts Set New Price Targets

Several analysts recently weighed in on WWD shares. Truist Financial upped their price objective on Woodward from $143.00 to $152.00 and gave the stock a hold rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Woodward from a buy rating to a hold rating and reduced their price target for the company from $197.00 to $158.00 in a research note on Wednesday. TD Cowen lowered their price objective on shares of Woodward from $200.00 to $186.00 and set a buy rating for the company in a research report on Tuesday. Barclays raised their target price on shares of Woodward from $140.00 to $175.00 and gave the company an equal weight rating in a research report on Monday, May 6th. Finally, Jefferies Financial Group upgraded shares of Woodward from a hold rating to a buy rating and upped their price target for the stock from $170.00 to $190.00 in a report on Wednesday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Woodward currently has an average rating of Moderate Buy and a consensus price target of $173.22.

Insider Transactions at Woodward

In other news, Director Gregg C. Sengstack sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $167.01, for a total value of $1,002,060.00. Following the completion of the sale, the director now directly owns 17,450 shares of the company’s stock, valued at $2,914,324.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.12% of the stock is currently owned by insiders.

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.