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

Willdan Group (NASDAQ:WLDN) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.000-2.100 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Roth Mkm lifted their price target on shares of Willdan Group from $34.00 to $47.00 and gave the company a buy rating in a research report on Friday. Wedbush reiterated an outperform rating and issued a $35.00 target price on shares of Willdan Group in a research note on Monday, May 6th. Finally, StockNews.com upgraded shares of Willdan Group from a buy rating to a strong-buy rating in a research note on Saturday.

Willdan Group Stock Up 11.5 %

Shares of NASDAQ WLDN traded up $3.82 during midday trading on Friday, hitting $37.00. The stock had a trading volume of 345,264 shares, compared to its average volume of 86,372. The business’s 50 day moving average is $31.28 and its 200-day moving average is $27.42. The company has a market cap of $511.34 million, a P/E 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 company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.43.

Willdan Group (NASDAQ:WLDN) last released its quarterly earnings data 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. Willdan Group had a net margin of 3.10% and a return on equity of 12.27%. The firm had revenue of $141.00 million during the quarter, compared to analysts’ expectations of $123.07 million. During the same period in the previous year, the company earned $0.19 earnings per share. As a group, analysts predict that Willdan Group will post 1.54 EPS for the current year.

Insider Activity

In other news, major shareholder Fund L.P. Forager sold 5,707 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $33.01, for a total value of $188,388.07. Following the completion of the sale, the insider now directly owns 1,613,241 shares of the company’s stock, valued at $53,253,085.41. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Fund L.P. Forager sold 5,707 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $33.01, for a total transaction of $188,388.07. Following the completion of the transaction, the insider now owns 1,613,241 shares in the company, valued at $53,253,085.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mohammad Shahidehpour sold 3,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.83, for a total transaction of $92,490.00. Following the transaction, the director now owns 12,792 shares of the company’s stock, valued at approximately $394,377.36. The disclosure for this sale can be found here. Insiders sold 323,642 shares of company stock valued at $9,959,288 over the last three months. 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.