Willis Towers Watson Public Limited Company (NASDAQ:WTW) reported better-than-expected second-quarter earnings and raised its FY24 EPS guidance on Thursday.

Willis Towers Watson reported quarterly earnings of $2.55 per share which beat the analyst consensus estimate of $2.31 per share. The company reported quarterly sales of $2.265 billion which missed the analyst consensus estimate of $2.273 billion, according to data from Benzinga Pro.

"WTW delivered a strong second quarter, generating significant EPS growth and margin expansion through robust organic growth, operating efficiency and the continued execution of our Transformation program," said Carl Hess, WTW's Chief Executive Officer. "These results show that our efforts to grow, simplify and transform WTW continue to create sustainable value for shareholders, clients and colleagues. Given our strong performance and ongoing momentum, we are raising the low end of our full year 2024 target ranges for adjusted operating margin and adjusted EPS to 23.0%-23.5% and $16.00-$17.00, respectively."

Willis Towers Watson said it now expects FY24 earnings of $16 to $17 per share, versus prior forecast of $15.40 to $17 per share.

Willis Towers Watson shares gained 1.4% to trade at $281.45 on Friday.

These analysts made changes to their price targets on Willis Towers Watson following the announcement.

• Wells Fargo analyst Elyse Greenspan maintained Willis Towers Watson with an Overweight rating, while raising the price target from $318 to $321.
• Truist Securities analyst Mark Hughes maintained the stock with a Buy rating and boosted the price target from $310 to $335.
• Roth MKM analyst Harry Fong maintained Willis Towers Watson with a Buy, while increasing the price target from $300 to $315.

• Nvidia, Lockheed Martin And 2 Other Stocks Insiders Are Selling