Woodward (NASDAQ:WWD) Releases FY 2024 Earnings Guidance

Woodward (NASDAQ:WWD) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 5.800-6.000 for the period, compared to the consensus estimate of 5.980. The company issued revenue guidance of $3.3 billion-$3.3 billion, compared to the consensus revenue estimate of $3.3 billion. Woodward also updated its FY24 guidance to $5.80-6.00 EPS.

Woodward Stock Up 0.0 %

NASDAQ:WWD traded up $0.06 on Monday, hitting $183.19. 578,961 shares of the company’s stock were exchanged, compared to its average volume of 402,046. Woodward has a 52 week low of $119.03 and a 52 week high of $188.35. The company has a market cap of $11.16 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.62 and a quick ratio of 1.78. The firm has a 50-day moving average price of $180.48 and a 200-day moving average price of $159.98.

Woodward (NASDAQ:WWD) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.34. The firm had revenue of $835.34 million for the quarter, compared to analyst estimates of $807.04 million. Woodward had a return on equity of 16.50% and a net margin of 11.09%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 EPS. As a group, analysts expect that Woodward will post 5.88 EPS for the current fiscal year.

Woodward Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 22nd. Woodward’s dividend payout ratio (DPR) is currently 17.48%.

Analysts Set New Price Targets

WWD has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Woodward from $159.00 to $201.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Truist Financial increased their price target on Woodward from $143.00 to $152.00 and gave the company a hold rating in a research note on Tuesday, April 30th. Wells Fargo & Company lifted their price objective on shares of Woodward from $156.00 to $172.00 and gave the stock an equal weight rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Woodward from $200.00 to $210.00 and gave the company a buy rating in a research report on Tuesday, May 28th. Finally, Barclays lifted their target price on shares of Woodward from $140.00 to $175.00 and gave the stock an equal weight rating in a report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $174.38.

Insider Buying and Selling

In other news, Director Gregg C. Sengstack sold 6,000 shares of Woodward stock in a transaction that occurred on Thursday, May 2nd. The shares were 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 in the company, valued at $2,914,324.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.12% of the stock is 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.