Woodward, Inc. (WWD) Releases Earnings Results, Beats Estimates By $0.09 EPS
Woodward, Inc. (NASDAQ:WWD) announced its quarterly earnings data on Monday. The technology company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09, Briefing.com reports. The business had revenue of $548.62 million for the quarter, compared to analyst estimates of $530.89 million. Woodward had a return on equity of 16.41% and a net margin of 9.74%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. Woodward updated its FY17 guidance to $3.05-3.15 EPS.
Shares of Woodward (WWD) opened at 68.88 on Tuesday. The company has a 50 day moving average price of $68.67 and a 200 day moving average price of $68.63. The firm has a market cap of $4.22 billion, a PE ratio of 21.99 and a beta of 1.20. Woodward has a 12-month low of $57.02 and a 12-month high of $72.28.
Several analysts recently commented on the company. Wood & Company reaffirmed a “buy” rating and set a $80.00 target price on shares of Woodward in a report on Tuesday. BidaskClub downgraded Woodward from a “hold” rating to a “sell” rating in a research report on Monday. CIBC assumed coverage on Woodward in a research report on Friday, July 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Oppenheimer Holdings, Inc. assumed coverage on Woodward in a research report on Friday, July 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Finally, Zacks Investment Research upgraded Woodward from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $73.89.
In other news, CFO Robert F. Weber, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $66.49, for a total transaction of $498,675.00. Following the completion of the sale, the chief financial officer now directly owns 34,053 shares in the company, valued at $2,264,183.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary L. Petrovich bought 7,300 shares of the stock in a transaction dated Thursday, April 27th. The shares were acquired at an average price of $68.35 per share, with a total value of $498,955.00. Following the completion of the purchase, the director now directly owns 22,204 shares of the company’s stock, valued at $1,517,643.40. The disclosure for this purchase can be found here. 5.93% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of WWD. Retirement Systems of Alabama boosted its position in shares of Woodward by 65.8% in the first quarter. Retirement Systems of Alabama now owns 118,725 shares of the technology company’s stock valued at $8,064,000 after buying an additional 47,103 shares during the last quarter. FIL Ltd boosted its position in shares of Woodward by 33.3% in the first quarter. FIL Ltd now owns 212,060 shares of the technology company’s stock worth $14,403,000 after buying an additional 52,980 shares in the last quarter. Oakbrook Investments LLC acquired a new position in shares of Woodward during the first quarter worth about $272,000. Martingale Asset Management L P boosted its position in shares of Woodward by 0.9% in the first quarter. Martingale Asset Management L P now owns 55,904 shares of the technology company’s stock worth $3,797,000 after buying an additional 504 shares in the last quarter. Finally, Sawgrass Asset Management LLC acquired a new position in shares of Woodward during the first quarter worth about $206,000. 71.17% of the stock is currently owned by institutional investors and hedge funds.
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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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