Willdan Group (NASDAQ:WLDN) Releases FY 2024 Earnings Guidance

Willdan Group (NASDAQ:WLDN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.000-2.100 for the period, compared to the consensus estimate of 1.850. The company issued revenue guidance of $280.0 million-$290.0 million, compared to the consensus revenue estimate of $280.1 million. Willdan Group also updated its FY24 guidance to $2.00-2.10 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Willdan Group from a buy rating to a strong-buy rating in a research report on Saturday. Roth Mkm increased their price objective on shares of Willdan Group from $34.00 to $47.00 and gave the stock a buy rating in a research report on Friday. Finally, Wedbush reiterated an outperform rating and set a $35.00 price objective on shares of Willdan Group in a research report on Monday, May 6th.

Willdan Group Trading Up 11.5 %

Shares of WLDN traded up $3.82 during trading hours on Friday, hitting $37.00. 345,264 shares of the stock were exchanged, compared to its average volume of 86,372. Willdan Group has a fifty-two week low of $17.09 and a fifty-two week high of $38.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.79 and a quick ratio of 1.79. The business has a 50-day moving average of $31.28 and a 200-day moving average of $27.42. The firm has a market capitalization of $511.34 million, a P/E ratio of 39.79 and a beta of 1.38.

Willdan Group (NASDAQ:WLDN) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. The business had revenue of $141.00 million during the quarter, compared to analysts’ expectations of $123.07 million. Willdan Group had a net margin of 3.10% and a return on equity of 12.27%. During the same period last year, the company posted $0.19 earnings per share. On average, research analysts expect that Willdan Group will post 1.54 EPS for the current year.

Insiders Place Their Bets

In other Willdan Group news, Director Thomas Donald Brisbin sold 7,347 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $32.01, for a total value of $235,177.47. Following the completion of the sale, the director now directly owns 413,908 shares in the company, valued at $13,249,195.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Fund L.P. Forager sold 15,580 shares of Willdan Group stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $33.15, for a total transaction of $516,477.00. Following the completion of the transaction, the insider now directly owns 1,524,694 shares in the company, valued at $50,543,606.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Donald Brisbin sold 7,347 shares of Willdan Group stock in a transaction dated 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 owns 413,908 shares of the company’s stock, valued at $13,249,195.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 323,642 shares of company stock worth $9,959,288. 9.80% of the stock is currently owned by company insiders.

Willdan Group Company Profile

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.