Woodward (NASDAQ:WWD) Issues Earnings Results

Woodward (NASDAQ:WWD) released its quarterly earnings data on Monday. The technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.28 by $0.34, Briefing.com reports. Woodward had a net margin of 9.50% and a return on equity of 15.26%. The firm had revenue of $835.34 million for the quarter, compared to the consensus estimate of $807.04 million. During the same period in the previous year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 16.3% on a year-over-year basis. Woodward updated its FY24 guidance to $5.70-6.00 EPS and its FY 2024 guidance to 5.700-6.000 EPS.

Woodward Stock Up 0.3 %

Woodward stock opened at $151.07 on Tuesday. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 1.84 and a beta of 1.36. The firm has a 50 day simple moving average of $147.74 and a 200 day simple moving average of $138.52. Woodward has a 1-year low of $95.60 and a 1-year 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, May 21st. Woodward’s dividend payout ratio (DPR) is currently 21.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WWD. Deutsche Bank Aktiengesellschaft raised their price target on shares of Woodward from $165.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. UBS Group upped their price target on shares of Woodward from $168.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. The Goldman Sachs Group raised their price objective on Woodward from $159.00 to $201.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company upped their target price on Woodward from $151.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Finally, Barclays increased their target price on Woodward from $134.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.22.

Insider Activity at Woodward

In other news, COO Thomas G. Cromwell sold 38,700 shares of the firm’s stock in a transaction that occurred 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 $1,680,049.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John D. Cohn sold 1,500 shares of the business’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 transaction, the director now owns 20,531 shares in the company, valued at $2,850,934.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas G. Cromwell sold 38,700 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,680,049.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,200 shares of company stock worth $7,242,916. 1.12% of the stock is owned by company insiders.

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.