Woodward Analysts Slash Their Forecasts After Q3 Results
Portfolio Pulse from Avi Kapoor
Woodward, Inc. (NASDAQ: WWD) reported mixed Q3 results, beating earnings estimates but missing on sales. The company lowered its FY24 revenue guidance, leading to a significant drop in its stock price. Analysts from TD Cowen and Deutsche Bank maintained their Buy ratings but reduced their price targets.
July 30, 2024 | 5:45 pm
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Woodward, Inc. reported mixed Q3 results, beating earnings estimates but missing on sales. The company lowered its FY24 revenue guidance, leading to an 18.4% drop in its stock price. Analysts maintained Buy ratings but reduced their price targets.
The mixed Q3 results, particularly the miss on sales and the lowered FY24 revenue guidance, have negatively impacted investor sentiment, leading to a significant drop in the stock price. Despite analysts maintaining Buy ratings, the reduction in price targets indicates a cautious outlook.
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IMPORTANCE 90
RELEVANCE 100