Waddell & Reed Financial Price Target Raised to $64.00 at Credit Suisse (WDR)
Research analysts at Credit Suisse increased their price target on shares of Waddell & Reed Financial (NYSE:WDR) from $57.00 to $64.00 in a report released on Tuesday, American Banking News reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price objective indicates a potential upside of 3.21% from the company’s current price.
Shares of Waddell & Reed Financial (NYSE:WDR) traded up 3.09% during mid-day trading on Tuesday, hitting $62.01. 880,711 shares of the company’s stock traded hands. Waddell & Reed Financial has a 1-year low of $29.09 and a 1-year high of $55.03. The stock has a 50-day moving average of $50.20 and a 200-day moving average of $45.77. The company has a market cap of $5.314 billion and a P/E ratio of 30.80.
Waddell & Reed Financial (NYSE:WDR) last released its earnings data on Tuesday, October 29th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.70 by $0.10. The company had revenue of $347.10 million for the quarter, compared to the consensus estimate of $335.30 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts predict that Waddell & Reed Financial will post $2.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Friday, October 11th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, October 9th.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Waddell & Reed Financial from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 10th. They now have a $56.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Waddell & Reed Financial from $53.00 to $58.00 in a research note to investors on Wednesday, October 9th. They now have a “hold” rating on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of Waddell & Reed Financial from $51.00 to $58.00 in a research note to investors on Thursday, October 3rd. They now have an “equal weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Waddell & Reed Financial presently has an average rating of “Hold” and an average price target of $50.22.
Waddell & Reed Financial, Inc is engaged in providing investment management, investment product underwriting and distribution, and shareholder services administration to mutual funds and institutional and separately managed accounts.
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