Why Woodward Stock Is Soaring Higher Today
Strong aerospace demand and China's push away from burning oil fueled better-than-expected earnings at Woodward (NASDAQ: WWD). The stock is up 8% as of noon ET after the company easily topped quarterly expectations.
Woodward is a diversified industrial manufacturer focused on power and control products for the aerospace and heavy-equipment markets. The company's fiscal second quarter saw strong demand from China for natural gas truck and bus powertrains, as well as significant interest in aerospace spare parts.
The company earned $1.62 per share in the quarter on sales of $835 million, topping Wall Street's $1.32 per share in earnings on sales of $807 million consensus estimate. Net sales were up 16%, and net earnings were up 170% to $98 million.
Source Fool.com
Woodward Inc. Stock
We see a rather positive sentiment for Woodward Inc. with 11 Buy predictions and 1 Sell predictions.
As a result the target price of 175 € shows a slightly positive potential of 6.71% compared to the current price of 164.0 € for Woodward Inc..
