Willdan Group (NASDAQ:WLDN) Issues FY 2024 Earnings Guidance

Willdan Group (NASDAQ:WLDN) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.000-2.100 for the period, compared to the consensus EPS estimate of 1.850. The company issued revenue guidance of $280.0 million-$290.0 million, compared to the consensus revenue estimate of $280.1 million. Willdan Group also updated its FY24 guidance to $2.00-2.10 EPS.

Willdan Group Trading Up 11.5 %

Shares of WLDN traded up $3.82 during midday trading on Friday, reaching $37.00. The company had a trading volume of 345,264 shares, compared to its average volume of 86,372. Willdan Group has a 1-year low of $17.09 and a 1-year high of $38.25. The stock has a market cap of $511.34 million, a PE ratio of 39.79 and a beta of 1.38. The firm has a 50 day simple moving average of $31.28 and a 200-day simple moving average of $27.42. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.43.

Willdan Group (NASDAQ:WLDN) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. Willdan Group had a return on equity of 12.27% and a net margin of 3.10%. The business had revenue of $141.00 million during the quarter, compared to analysts’ expectations of $123.07 million. During the same period in the prior year, the business posted $0.19 EPS. Research analysts forecast that Willdan Group will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WLDN. Roth Mkm lifted their price target on Willdan Group from $34.00 to $47.00 and gave the company a buy rating in a research note on Friday. StockNews.com upgraded Willdan Group from a buy rating to a strong-buy rating in a research note on Saturday. Finally, Wedbush reiterated an outperform rating and set a $35.00 target price on shares of Willdan Group in a research report on Monday, May 6th.

Insider Transactions at Willdan Group

In related news, major shareholder Fund L.P. Forager sold 10,830 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $32.84, for a total value of $355,657.20. Following the completion of the transaction, the insider now owns 1,630,428 shares of the company’s stock, valued at $53,543,255.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Fund L.P. Forager sold 10,830 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $32.84, for a total value of $355,657.20. Following the completion of the transaction, the insider now owns 1,630,428 shares of the company’s stock, valued at $53,543,255.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mohammad Shahidehpour sold 3,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.83, for a total value of $92,490.00. Following the transaction, the director now directly owns 12,792 shares in the company, valued at approximately $394,377.36. The disclosure for this sale can be found here. Insiders sold 323,642 shares of company stock valued at $9,959,288 over the last quarter. Company insiders own 9.80% of the company’s stock.

About Willdan Group

Willdan Group, Inc, together with its subsidiaries, provides professional, technical, and consulting services primarily in the United States. It operates in two segments, Energy, and Engineering and Consulting. The Energy segment offers comprehensive audit and surveys, program design and implementation, master planning, demand reduction, grid optimization, benchmarking analyses, design engineering, construction management, performance contracting, installation, alternative financing, measurement and verification services, and software and data analytics, as well as energy consulting and engineering, turnkey facility and infrastructure projects, and customer support services.