Wall Street brokerages predict that Woodward, Inc. (NASDAQ:WWD) will post $599.37 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Woodward’s earnings, with the lowest sales estimate coming in at $585.00 million and the highest estimate coming in at $610.70 million. Woodward posted sales of $590.92 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.4%. The business is expected to announce its next quarterly earnings report on Monday, November 13th.
According to Zacks, analysts expect that Woodward will report full year sales of $599.37 million for the current year, with estimates ranging from $2.08 billion to $2.10 billion. For the next fiscal year, analysts expect that the company will report sales of $2.21 billion per share, with estimates ranging from $2.19 billion to $2.23 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Woodward.
Woodward (NASDAQ:WWD) last released its earnings results on Monday, July 24th. The technology company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.09. The firm had revenue of $548.62 million for the quarter, compared to analysts’ expectations of $530.89 million. Woodward had a net margin of 9.67% and a return on equity of 16.12%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 earnings per share.
A number of analysts have recently issued reports on the stock. CL King assumed coverage on shares of Woodward in a report on Thursday, June 22nd. They set a “buy” rating and a $79.00 price target on the stock. Oppenheimer Holdings, Inc. assumed coverage on shares of Woodward in a report on Friday, July 14th. They issued an “outperform” rating and a $82.00 price objective on the stock. BidaskClub raised shares of Woodward from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. CIBC assumed coverage on shares of Woodward in a report on Friday, July 14th. They issued an “outperform” rating and a $82.00 price objective on the stock. Finally, Wood & Company reissued a “buy” rating and issued a $80.00 price objective on shares of Woodward in a report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.75.
Woodward (WWD) opened at 80.51 on Friday. The stock has a market capitalization of $4.94 billion, a PE ratio of 25.32 and a beta of 1.24. The firm has a 50-day moving average of $75.93 and a 200-day moving average of $70.35. Woodward has a 1-year low of $57.09 and a 1-year high of $80.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, November 10th. Woodward’s payout ratio is 15.77%.
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In other Woodward news, Director John A. Halbrook sold 8,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $70.02, for a total transaction of $609,174.00. Following the sale, the director now owns 350,521 shares in the company, valued at approximately $24,543,480.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Donovan sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $70.55, for a total transaction of $402,135.00. Following the sale, the director now owns 39,052 shares in the company, valued at approximately $2,755,118.60. The disclosure for this sale can be found here. In the last three months, insiders sold 16,200 shares of company stock worth $1,138,389. 5.93% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WWD. Parametric Portfolio Associates LLC raised its stake in Woodward by 129.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 47,152 shares of the technology company’s stock worth $3,203,000 after acquiring an additional 26,635 shares during the period. JPMorgan Chase & Co. raised its stake in Woodward by 71.3% during the 1st quarter. JPMorgan Chase & Co. now owns 113,445 shares of the technology company’s stock worth $7,705,000 after acquiring an additional 47,219 shares during the period. Credit Agricole S A bought a new stake in Woodward during the 1st quarter worth approximately $799,000. OppenheimerFunds Inc. raised its stake in Woodward by 39.3% during the 1st quarter. OppenheimerFunds Inc. now owns 8,443 shares of the technology company’s stock worth $574,000 after acquiring an additional 2,383 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Woodward by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 227,980 shares of the technology company’s stock worth $15,485,000 after acquiring an additional 5,067 shares during the period. Institutional investors own 71.23% of the company’s stock.
Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.
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