Equities Analysts Set Expectations for Woodward, Inc.’s Q2 2023 Earnings (NASDAQ:WWD)

Woodward, Inc. (NASDAQ:WWDGet Rating) – William Blair issued their Q2 2023 earnings per share estimates for Woodward in a note issued to investors on Monday, November 21st. William Blair analyst N. Heymann anticipates that the technology company will post earnings per share of $0.86 for the quarter. The consensus estimate for Woodward’s current full-year earnings is $3.44 per share. William Blair also issued estimates for Woodward’s Q3 2023 earnings at $0.90 EPS, Q4 2023 earnings at $1.15 EPS, FY2023 earnings at $3.55 EPS and FY2024 earnings at $4.35 EPS.

WWD has been the topic of a number of other reports. Barclays reduced their price objective on Woodward from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday. Truist Financial raised their target price on Woodward from $80.00 to $88.00 in a research note on Friday, November 18th. StockNews.com raised Woodward from a “hold” rating to a “buy” rating in a research note on Monday. Wolfe Research cut Woodward from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $90.00 target price on shares of Woodward in a research note on Wednesday, September 14th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $105.86.

Woodward Stock Down 0.8 %

Shares of NASDAQ:WWD opened at $98.35 on Wednesday. The stock’s 50-day moving average price is $89.77 and its 200-day moving average price is $94.14. Woodward has a 12-month low of $79.26 and a 12-month high of $129.12. The stock has a market capitalization of $5.88 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 2.13 and a beta of 1.50. The company has a current ratio of 2.43, a quick ratio of 1.48 and a debt-to-equity ratio of 0.37.

Woodward Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Monday, November 14th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.76 annualized dividend and a yield of 0.77%. Woodward’s dividend payout ratio (DPR) is presently 27.84%.

Insiders Place Their Bets

In related news, CEO Charles P. Blankenship acquired 500 shares of the stock in a transaction on Monday, August 29th. The stock was acquired at an average cost of $95.85 per share, for a total transaction of $47,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 38,100 shares of the company’s stock, valued at approximately $3,651,885. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Charles P. Blankenship acquired 500 shares of the stock in a transaction on Monday, August 29th. The stock was acquired at an average cost of $95.85 per share, for a total transaction of $47,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 38,100 shares of the company’s stock, valued at approximately $3,651,885. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark D. Hartman sold 5,300 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $92.21, for a total transaction of $488,713.00. Following the completion of the sale, the chief financial officer now owns 2,585 shares of the company’s stock, valued at $238,362.85. The disclosure for this sale can be found here. Insiders purchased 12,000 shares of company stock worth $1,127,640 over the last three months. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Woodward

Large investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC purchased a new position in Woodward in the 2nd quarter worth approximately $28,000. Quadrant Capital Group LLC grew its position in Woodward by 226.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 307 shares of the technology company’s stock worth $25,000 after purchasing an additional 213 shares during the period. Meeder Asset Management Inc. bought a new stake in Woodward in the 1st quarter worth approximately $41,000. Wipfli Financial Advisors LLC bought a new stake in Woodward in the 3rd quarter worth approximately $35,000. Finally, Ellevest Inc. grew its position in Woodward by 73.8% in the 2nd quarter. Ellevest Inc. now owns 497 shares of the technology company’s stock worth $46,000 after purchasing an additional 211 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

About Woodward

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Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through 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.

Further Reading

Earnings History and Estimates for Woodward (NASDAQ:WWD)

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