$599.37 Million in Sales Expected for Woodward, Inc. (NASDAQ:WWD) This Quarter
Equities analysts forecast that Woodward, Inc. (NASDAQ:WWD) will report sales of $599.37 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided 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 suggests a positive year-over-year growth rate of 1.4%. The firm is scheduled to issue its next earnings results on Monday, November 13th.
According to Zacks, analysts expect that Woodward will report full-year sales of $599.37 million for the current fiscal year, with estimates ranging from $2.08 billion to $2.10 billion. For the next financial year, analysts forecast that the company will post sales of $2.21 billion per share, with estimates ranging from $2.19 billion to $2.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Woodward.
Woodward (NASDAQ:WWD) last announced its earnings results on Monday, July 24th. The technology company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $548.62 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS.
Several equities research analysts have recently commented on WWD shares. BidaskClub downgraded shares of Woodward from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Wood & Company started coverage on shares of Woodward in a research note on Thursday, July 13th. They set an “outperform” rating and a $82.00 price objective for the company. CIBC started coverage on shares of Woodward in a research note on Friday, July 14th. They set an “outperform” rating and a $82.00 price objective for the company. Stephens started coverage on shares of Woodward in a research note on Thursday, April 13th. They set an “overweight” rating and a $82.00 price objective for the company. Finally, Cowen and Company reiterated a “market perform” rating and set a $62.00 price objective (up from $58.00) on shares of Woodward in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Woodward presently has an average rating of “Hold” and an average price target of $73.89.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be issued a $0.125 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.50 dividend on an annualized basis and a yield of 0.72%. Woodward’s payout ratio is 15.77%.
In other Woodward news, CFO Robert F. Weber, Jr. sold 7,500 shares of Woodward stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $66.49, for a total value of $498,675.00. Following the completion of the transaction, the chief financial officer now owns 34,053 shares of the company’s stock, valued at $2,264,183.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.93% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in shares of Woodward during the fourth quarter valued at about $204,000. UBS Asset Management Americas Inc. raised its stake in shares of Woodward by 1.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 215,960 shares of the technology company’s stock valued at $14,911,000 after buying an additional 3,088 shares during the period. Teachers Advisors LLC raised its stake in shares of Woodward by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 93,966 shares of the technology company’s stock valued at $6,488,000 after buying an additional 2,273 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Woodward during the fourth quarter valued at about $224,000. Finally, Capstone Asset Management Co. raised its stake in shares of Woodward by 29.1% in the first quarter. Capstone Asset Management Co. now owns 6,372 shares of the technology company’s stock valued at $433,000 after buying an additional 1,437 shares during the period. Institutional investors and hedge funds own 71.09% 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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