Woodward (NASDAQ:WWD) Updates FY 2024 Earnings Guidance

Woodward (NASDAQ:WWD - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.700-6.000 for the period, compared to the consensus estimate of 5.360. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.2 billion. Woodward also updated its FY24 guidance to $5.70-6.00 EPS.

Wall Street Analysts Forecast Growth

WWD has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Woodward from $165.00 to $174.00 and gave the stock a buy rating in a research report on Tuesday, January 30th. Truist Financial raised their price objective on Woodward from $136.00 to $143.00 and gave the company a hold rating in a report on Tuesday, January 30th. StockNews.com downgraded Woodward from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Alembic Global Advisors lowered Woodward from an overweight rating to a neutral rating and set a $148.00 target price on the stock. in a research report on Thursday, February 1st. Finally, Barclays boosted their price target on shares of Woodward from $134.00 to $140.00 and gave the stock an equal weight rating in a report on Tuesday, February 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.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $158.22.

Woodward Price Performance

NASDAQ WWD traded up $0.49 during mid-day trading on Monday, hitting $151.07. The stock had a trading volume of 1,212,599 shares, compared to its average volume of 383,503. Woodward has a twelve month low of $95.60 and a twelve month high of $160.79. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.65 and a quick ratio of 1.69. The firm's 50 day moving average is $147.74 and its 200 day moving average is $138.52. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.84 and a beta of 1.36.

Woodward (NASDAQ:WWD - Get Free Report) last issued its earnings results on Monday, January 29th. The technology company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.33. Woodward had a net margin of 9.50% and a return on equity of 15.26%. The business had revenue of $786.73 million during the quarter, compared to analysts' expectations of $750.13 million. During the same period in the prior year, the business earned $0.49 earnings per share. The company's quarterly revenue was up 27.2% compared to the same quarter last year. Equities research analysts forecast that Woodward will post 5.27 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The business also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 21st. Woodward's dividend payout ratio is currently 21.10%.

Insider Activity at Woodward

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