Woodward Inc. (WWD) Posts Earnings Results, Beats Estimates By $0.07 EPS
Woodward Inc. (NASDAQ:WWD) issued its quarterly earnings results on Monday. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.07. The company had revenue of $590.92 million for the quarter, compared to the consensus estimate of $571.55 million. Woodward had a net margin of 8.40% and a return on equity of 15.53%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Woodward updated its FY17 guidance to $2.95-3.25 EPS.
Shares of Woodward (NASDAQ:WWD) opened at 65.15 on Tuesday. The stock has a market capitalization of $4.01 billion, a P/E ratio of 24.83 and a beta of 1.08. Woodward has a 12-month low of $41.24 and a 12-month high of $66.30. The firm’s 50-day moving average is $60.26 and its 200 day moving average is $58.91.
The firm 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 dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, November 9th. Woodward’s dividend payout ratio (DPR) is presently 16.73%.
A number of brokerages recently weighed in on WWD. Zacks Investment Research downgraded shares of Woodward from a “buy” rating to a “hold” rating in a report on Monday, September 26th. Barrington Research began coverage on shares of Woodward in a report on Friday, September 16th. They issued a “market perform” rating on the stock. Finally, Jefferies Group set a $59.00 price target on shares of Woodward and gave the stock a “hold” rating in a report on Wednesday, July 20th.
Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Woodward by 28.8% in the second quarter. JPMorgan Chase & Co. now owns 1,983 shares of the company’s stock valued at $114,000 after buying an additional 443 shares during the last quarter. Advisor Group Inc. purchased a new position in shares of Woodward during the second quarter valued at about $124,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Woodward by 11.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,000 shares of the company’s stock valued at $125,000 after buying an additional 209 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Woodward by 2,301.0% in the second quarter. Panagora Asset Management Inc. now owns 2,401 shares of the company’s stock valued at $138,000 after buying an additional 2,301 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Woodward during the second quarter valued at about $160,000. Institutional investors own 75.40% of the company’s stock.
Woodward Company Profile
Woodward, Inc is a designer, manufacturer, and service provider of energy controls and optimization solutions. The Company has production and assembly facilities in the United States, Europe and Asia, and promotes its products and services through its worldwide locations. The Company’s is engaged in providing energy control and optimization solutions for the aerospace and energy markets.
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