Willdan Group (NASDAQ:WLDN) Issues FY24 Earnings Guidance

Willdan Group (NASDAQ:WLDN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.00-2.10 for the period, compared to the consensus EPS estimate of $1.85. The company issued revenue guidance of $280-290 million, compared to the consensus revenue estimate of $280.10 million. Willdan Group also updated its FY 2024 guidance to 2.000-2.100 EPS.

Willdan Group Price Performance

Shares of WLDN traded up $3.82 during mid-day trading on Friday, hitting $37.00. 345,264 shares of the stock were exchanged, compared to its average volume of 86,372. The company has a market cap of $511.34 million, a PE ratio of 39.79 and a beta of 1.38. Willdan Group has a 52-week low of $17.09 and a 52-week high of $38.25. The firm has a 50-day moving average of $31.28 and a two-hundred day moving average of $27.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 1.79.

Willdan Group (NASDAQ:WLDN) last released its earnings results on Thursday, August 1st. The construction company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.15. The firm had revenue of $141.00 million for the quarter, compared to the consensus estimate of $123.07 million. Willdan Group had a return on equity of 12.27% and a net margin of 3.10%. During the same quarter in the previous year, the company posted $0.19 EPS. On average, equities analysts predict that Willdan Group will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on WLDN. StockNews.com raised Willdan Group from a buy rating to a strong-buy rating in a research report on Saturday. Roth Mkm increased their price target on Willdan Group from $34.00 to $47.00 and gave the stock a buy rating in a research report on Friday. Finally, Wedbush reissued an outperform rating and set a $35.00 price target on shares of Willdan Group in a research report on Monday, May 6th.

Insider Buying and Selling

In related news, major shareholder Fund L.P. Forager sold 188,230 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $29.93, for a total transaction of $5,633,723.90. Following the sale, the insider now directly owns 1,255,765 shares of the company’s stock, valued at $37,585,046.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Willdan Group news, major shareholder Fund L.P. Forager sold 188,230 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $29.93, for a total value of $5,633,723.90. Following the sale, the insider now directly owns 1,255,765 shares of the company’s stock, valued at $37,585,046.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mohammad Shahidehpour sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $30.83, for a total value of $92,490.00. Following the completion of the sale, the director now directly owns 12,792 shares in the company, valued at $394,377.36. The disclosure for this sale can be found here. Insiders have sold a total of 323,642 shares of company stock valued at $9,959,288 over the last ninety 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.