Woodward (WWD) Hits 52-Week High On Solid Performance
Zacks Investment Research | Aug 24, 2016 08:51AM ET
Woodward Inc. (NASDAQ:WWD) hit a new 52-week high of $62.59 on Aug 23, before closing the trading session a tad lower at $62.10. The stock has delivered an impressive one-year return of about 43.1%, while the S&P 500 returned 17.1% over the same timeframe.
Over the past 52 weeks, Woodward Inc.’s share price has ranged from a low of $39.68 to a high of $62.59. Average volume of shares traded over the last three months is approximately 275,466.
What’s Driving Woodward?
Woodward reported third-quarter fiscal 2016 earnings of 81 cents per share, beating the Zacks Consensus Estimate by 6.6% and up 22.7% from the prior-year figure. Continued weakness in the Industrial segment was offset by a strong performance at Aerospace and a lower tax rate.
The company has reported a positive earnings surprise in three out of the last four quarters, resulting in a positive average surprise of 2.14%.
Woodward has been investing in technologies in order to secure fresh businesses. It is also spending on new manufacturing units and automation equipment to boost efficiency, as the company intends to accelerate production in the latter half of the decade. In the first nine months of fiscal 2016, the company has spent $129 million as capital expenditure.
WOODWARD INC Price and Consensus
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