Jefferies Raises Price Target on Woodward (WWD) to $62 Following 4Q Report

November 15, 2016 8:01 AM EST
Get Alerts WWD Hot Sheet
Price: $69.58 --0%

Rating Summary:
    6 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 3
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Jefferies reiterated a Hold rating on Woodward (NASDAQ: WWD), and raised the price target to $62.00 (from $59.00), following the company's 4Q earnings report. WWD reported EPS of $0.99, ahead of the consensus estimates of $0.91. Management believes Industrial revenues have reached a bottom, but visibility remains low as exhibited by a potentially seasonally weaker FQ1.

Analyst Sheila Kahyaoglu commented, "WWD reported FQ4:16 EPS of $0.99 vs. our est/cons. of $0.91. Operating profit accounted for the $0.10 beat driven by better revenues and earning in Aerospace. Tax helped by $0.02, offset by interest. Mgmt. initiated 2017 EPS range of $2.95-$3.25 vs. $2.85 in 2016; this compares to our estimate/ consensus of $3.10/$3.24."

For an analyst ratings summary and ratings history on Woodward click here. For more ratings news on Woodward click here.

Shares of Woodward closed at $65.15 yesterday.

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