Woodward (NASDAQ:WWD) Announces Earnings Results, Beats Expectations By $0.11 EPS

Woodward (NASDAQ:WWD) issued its quarterly earnings data on Monday. The technology company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11, Briefing.com reports. The business had revenue of $847.69 million for the quarter, compared to analyst estimates of $853.29 million. Woodward had a return on equity of 17.16% and a net margin of 11.47%. Woodward’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS. Woodward updated its FY24 guidance to $5.80-6.00 EPS and its FY 2024 guidance to 5.800-6.000 EPS.

Woodward Stock Down 1.5 %

WWD stock traded down $2.36 during trading on Thursday, reaching $153.63. 445,254 shares of the stock were exchanged, compared to its average volume of 426,270. The firm’s 50 day moving average is $179.37 and its 200 day moving average is $160.36. Woodward has a twelve month low of $119.03 and a twelve month high of $188.35. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market cap of $9.36 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37.

Woodward Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 22nd. Woodward’s dividend payout ratio (DPR) is currently 17.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Woodward from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. TD Cowen cut their target price on Woodward from $200.00 to $186.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays lifted their target price on Woodward from $140.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Truist Financial lifted their target price on Woodward from $143.00 to $152.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, StockNews.com downgraded Woodward from a “buy” rating to a “hold” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $173.22.

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.