KeyBanc Lowers Price Target and Estimates on Woodward (WWD); Long-Term Opportunities Still Present

KeyBanc maintains a 'Buy' on Woodward (NASDAQ: WWD) price target of $41.00 (from $45.00).

Analyst, Michael F. Ciarmoli, said, "We are maintaining our rating on shares of WWD following the Company's negative earnings pre-announcement this morning as we still believe that the Company's core longer-term secular commercial aerospace and natural gas growth opportunities remain well intact."

Ciarmoli lowers Q3/Q4 EPS estimate from $0.59/0.71 to $0.40/0.60, respectively. He also lowers FY12 revenues from $1.89B to $1.87B and FY12 EPS estimate from $2.26 to $1.95. For FY13, EPS estimate is cut from $2.58 to $2.38 and revenues from $2.04B to $2B.

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 $36.05 yesterday.

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