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 (EPS) guidance of $5.70-6.00 for the period, compared to the consensus estimate of $5.37. The company issued revenue guidance of $3.25-3.35 billion, compared to the consensus revenue estimate of $3.24 billion. Woodward also updated its FY 2024 guidance to 5.700-6.000 EPS.

Analyst Upgrades and Downgrades

WWD has been the topic of a number of research reports. StockNews.com downgraded shares of Woodward from a strong-buy rating to a buy rating in a report on Friday, February 2nd. Alembic Global Advisors cut Woodward from an overweight rating to a neutral rating and set a $148.00 target price on the stock. in a report on Thursday, February 1st. Barclays boosted their price target on Woodward from $134.00 to $140.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Wells Fargo & Company raised their price objective on Woodward from $151.00 to $156.00 and gave the stock an equal weight rating in a research note on Thursday, April 4th. Finally, Truist Financial raised their target price on shares of Woodward from $136.00 to $143.00 and gave the stock a hold rating in a research note on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $158.22.

Woodward Trading Up 0.3 %

NASDAQ:WWD traded up $0.49 during midday trading on Monday, hitting $151.07. 1,212,599 shares of the company traded hands, compared to its average volume of 383,503. The firm has a market capitalization of $9.11 billion, a P/E ratio of 31.87, a P/E/G ratio of 1.84 and a beta of 1.36. The firm’s fifty day moving average is $147.74 and its 200-day moving average is $138.52. Woodward has a 12-month low of $95.60 and a 12-month high of $160.79. The company has a current ratio of 2.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.30.

Woodward (NASDAQ:WWD) last issued its earnings results on Monday, January 29th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $786.73 million during the quarter, compared to analyst estimates of $750.13 million. Woodward had a net margin of 9.50% and a return on equity of 15.26%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, sell-side analysts predict that Woodward will post 5.27 EPS for the current year.

Woodward Announces Dividend

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. Woodward’s dividend payout ratio is currently 21.10%.

Insider Buying and Selling at Woodward

In other Woodward news, COO Thomas G. Cromwell sold 38,700 shares of the company’s 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 completion of the sale, the chief operating officer now owns 11,833 shares in the company, valued at $1,680,049.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Woodward news, COO Thomas G. Cromwell sold 38,700 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.98, for a total transaction of $5,494,626.00. Following the completion of the sale, the chief operating officer now directly owns 11,833 shares of the company’s stock, valued at $1,680,049.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christopher Fawzy sold 11,000 shares of Woodward stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $140.00, for a total transaction of $1,540,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,836 shares in the company, valued at approximately $677,040. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,200 shares of company stock valued at $7,242,916. Company insiders own 1.12% of the company’s stock.

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.