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Reasons to Add Moog (MOG.A) Stock to Your Portfolio Now
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Moog Inc. (MOG.A - Free Report) , with a strong backlog and rising earnings estimates, offers a great investment opportunity in the Aerospace Defense sector.
Let’s focus on the reasons that make this Zacks Rank #2 (Buy) stock a promising investment pick at the moment.
Growth Projections & Surprise History
The Zacks Consensus Estimate for MOG.A’s fiscal 2024 earnings per share has increased 3.6% to $7.19 per share in the past 60 days. The Zacks Consensus Estimate for Moog’s total revenues for fiscal 2024 stands at $3.54 billion, which indicates growth of 6.6% from the fiscal 2023 reported figure.
The company delivered an average earnings surprise of 12.07% in the last four quarters.
Return on Equity
Return on equity (ROE) indicates how efficiently a company has been utilizing its funds to generate higher returns. Currently, Moog’s ROE is 13.81% compared with its industry’s average of 11.64%. This indicates that the company has been utilizing its funds more constructively than its peers in the industry.
Rising Backlog
Moog’s solid order activities resulted in a backlog of $2.50 billion as of Mar 30, 2024, which witnessed an improvement of $200 million from the year-ago quarter’s level. This increase was driven by increased orders for its aftermarket and OEM programs, new space vehicle programs and Military Aircraft programs, which include the F-35 fighter jet.
Dividend History
The company has been increasing shareholder value through dividend payments. On Apr 26, 2024, Moog announced a quarterly dividend of 28 cents per share, resulting in an annual dividend of $1.12 per share. Moog’s current dividend yield is 0.66%, better than its Industry’s dividend yield of 0.18%.
Solvency
Moog’s times interest earned ratio (TIE) at the end of the second quarter of fiscal 2024 was 4.43. The strong TIE ratio indicates that the company will be able to meet its interest payment obligations in the near term without any problems.
At the end of the second quarter of fiscal 2024, Moog’s total debt to capital was 35.1%, much better than the industry’s average of 54.25%.
Price Performance
In the past three months, Moog shares have risen 10.7% compared with its industry’s average return of 7.3%.
Leidos’ long-term earnings growth rate is pegged at 11.1%. The Zacks Consensus Estimate for LDOS’ 2024 sales is pegged at $16.07 billion, which suggests a year-over-year improvement of 4.1%.
Safran’s long-term earnings growth rate is pegged at 34.7%. The Zacks Consensus Estimate for SAFRY’s 2024 sales is pegged at $29.4 billion, which implies a year-over-year improvement of 42.9%.
Heico’s long-term earnings growth rate is pegged at 18.9%. The Zacks Consensus Estimate for HEI’s 2024 sales is pegged at $3.86 billion, which indicates a year-over-year improvement of 30.1%.
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Reasons to Add Moog (MOG.A) Stock to Your Portfolio Now
Moog Inc. (MOG.A - Free Report) , with a strong backlog and rising earnings estimates, offers a great investment opportunity in the Aerospace Defense sector.
Let’s focus on the reasons that make this Zacks Rank #2 (Buy) stock a promising investment pick at the moment.
Growth Projections & Surprise History
The Zacks Consensus Estimate for MOG.A’s fiscal 2024 earnings per share has increased 3.6% to $7.19 per share in the past 60 days. The Zacks Consensus Estimate for Moog’s total revenues for fiscal 2024 stands at $3.54 billion, which indicates growth of 6.6% from the fiscal 2023 reported figure.
The company delivered an average earnings surprise of 12.07% in the last four quarters.
Return on Equity
Return on equity (ROE) indicates how efficiently a company has been utilizing its funds to generate higher returns. Currently, Moog’s ROE is 13.81% compared with its industry’s average of 11.64%. This indicates that the company has been utilizing its funds more constructively than its peers in the industry.
Rising Backlog
Moog’s solid order activities resulted in a backlog of $2.50 billion as of Mar 30, 2024, which witnessed an improvement of $200 million from the year-ago quarter’s level. This increase was driven by increased orders for its aftermarket and OEM programs, new space vehicle programs and Military Aircraft programs, which include the F-35 fighter jet.
Dividend History
The company has been increasing shareholder value through dividend payments. On Apr 26, 2024, Moog announced a quarterly dividend of 28 cents per share, resulting in an annual dividend of $1.12 per share. Moog’s current dividend yield is 0.66%, better than its Industry’s dividend yield of 0.18%.
Solvency
Moog’s times interest earned ratio (TIE) at the end of the second quarter of fiscal 2024 was 4.43. The strong TIE ratio indicates that the company will be able to meet its interest payment obligations in the near term without any problems.
At the end of the second quarter of fiscal 2024, Moog’s total debt to capital was 35.1%, much better than the industry’s average of 54.25%.
Price Performance
In the past three months, Moog shares have risen 10.7% compared with its industry’s average return of 7.3%.
Image Source: Zacks Investment Research
Other Stocks to Consider
A few other top-ranked stocks from the same sector are Leidos Holdings, Inc. (LDOS - Free Report) , which sports a Zacks Rank #1 (Strong Buy), and Safran (SAFRY - Free Report) and Heico Corporation (HEI - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Leidos’ long-term earnings growth rate is pegged at 11.1%. The Zacks Consensus Estimate for LDOS’ 2024 sales is pegged at $16.07 billion, which suggests a year-over-year improvement of 4.1%.
Safran’s long-term earnings growth rate is pegged at 34.7%. The Zacks Consensus Estimate for SAFRY’s 2024 sales is pegged at $29.4 billion, which implies a year-over-year improvement of 42.9%.
Heico’s long-term earnings growth rate is pegged at 18.9%. The Zacks Consensus Estimate for HEI’s 2024 sales is pegged at $3.86 billion, which indicates a year-over-year improvement of 30.1%.