Woodward (NASDAQ:WWD) Releases FY24 Earnings Guidance

Woodward (NASDAQ:WWD) issued an update on its FY24 earnings guidance on Monday morning. 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WWD. Wells Fargo & Company lifted their price objective on Woodward from $156.00 to $172.00 and gave the company an equal weight rating in a research note on Tuesday, April 30th. Truist Financial lifted their target price on Woodward from $143.00 to $152.00 and gave the company a hold rating in a research report on Tuesday, April 30th. The Goldman Sachs Group raised their price objective on shares of Woodward from $159.00 to $201.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Barclays upped their target price on shares of Woodward from $140.00 to $175.00 and gave the stock an equal weight rating in a research note on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target 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. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $174.38.

Woodward Stock Down 16.6 %

NASDAQ:WWD traded down $30.42 during mid-day trading on Tuesday, hitting $152.77. The stock had a trading volume of 957,992 shares, compared to its average volume of 405,979. Woodward has a twelve month low of $119.03 and a twelve month high of $188.35. The stock has a 50-day simple moving average of $180.52 and a two-hundred day simple moving average of $160.30. The company has a current ratio of 2.62, a quick ratio of 1.78 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $9.30 billion, a PE ratio of 26.94, a PEG ratio of 1.89 and a beta of 1.37.

Woodward (NASDAQ:WWD) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The company had revenue of $847.69 million for the quarter, compared to the consensus estimate of $853.29 million. Woodward had a net margin of 11.09% and a return on equity of 16.50%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 EPS. On average, equities research analysts anticipate that Woodward will post 5.88 EPS for the current year.

Woodward Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. Woodward’s dividend payout ratio (DPR) is presently 17.48%.

Insider Activity at Woodward

In related news, Director Gregg C. Sengstack sold 6,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 17,450 shares in the company, valued at approximately $2,914,324.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.12% of the stock is owned by insiders.

About Woodward

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.