Woodward (NASDAQ:WWD) Releases Earnings Results, Beats Expectations By $0.34 EPS

Woodward (NASDAQ:WWD - Get Free Report) announced its quarterly earnings results on Monday. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.34, Briefing.com reports. The business had revenue of $835.34 million during the quarter, compared to the consensus estimate of $807.04 million. Woodward had a net margin of 9.50% and a return on equity of 15.26%. The business's revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. Woodward updated its FY24 guidance to $5.70-6.00 EPS and its FY 2024 guidance to 5.700-6.000 EPS.

Woodward Trading Up 7.5 %

Shares of NASDAQ:WWD traded up $11.29 during trading on Tuesday, reaching $162.36. The stock had a trading volume of 1,309,200 shares, compared to its average volume of 394,683. The company has a quick ratio of 1.69, a current ratio of 2.65 and a debt-to-equity ratio of 0.30. The stock has a market cap of $9.79 billion, a P/E ratio of 34.25, a PEG ratio of 1.84 and a beta of 1.36. The business has a fifty day moving average price of $148.01 and a 200-day moving average price of $138.67. Woodward has a fifty-two week low of $95.60 and a fifty-two week high of $169.99.

Woodward Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. Woodward's dividend payout ratio (DPR) is presently 21.10%.

Insider Buying and Selling

In other news, Director John D. Cohn sold 1,500 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $138.86, for a total transaction of $208,290.00. Following the completion of the transaction, the director now owns 20,531 shares of the company's stock, valued at approximately $2,850,934.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Woodward news, Director John D. Cohn sold 1,500 shares of Woodward stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $138.86, for a total value of $208,290.00. Following the transaction, the director now owns 20,531 shares in the company, valued at approximately $2,850,934.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Thomas G. Cromwell sold 38,700 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $141.98, for a total value of $5,494,626.00. Following the completion of the transaction, the chief operating officer now directly owns 11,833 shares in the company, valued at $1,680,049.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,200 shares of company stock worth $7,242,916. 1.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WWD shares. Alembic Global Advisors lowered Woodward from an "overweight" rating to a "neutral" rating and set a $148.00 price target on the stock. in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft upped their target price on Woodward from $182.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday. Wells Fargo & Company lifted their price target on Woodward from $156.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Tuesday. StockNews.com cut shares of Woodward from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Woodward from $159.00 to $201.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Woodward has a consensus rating of "Moderate Buy" and an average target price of $163.89.

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.