B. Riley Initiates Coverage on WD-40 (WDFC)
B. Riley assumed coverage on shares of WD-40 (NASDAQ:WDFC) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $91.00 price target on the stock. B. Riley’s target price suggests a potential upside of 21.19% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of WD-40 from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, December 18th. They now have a $79.20 price target on the stock. Finally, analysts at Janney Montgomery Scott raised their price target on shares of WD-40 from $58.00 to $70.00 in a research note to investors on Friday, October 18th. They now have a “neutral” rating on the stock.
WD-40 (NASDAQ:WDFC) traded up 0.51% during mid-day trading on Tuesday, hitting $75.09. The stock had a trading volume of 87,039 shares. WD-40 has a one year low of $47.00 and a one year high of $79.31. The stock has a 50-day moving average of $74.49 and a 200-day moving average of $65.20. The company has a market cap of $1.146 billion and a P/E ratio of 29.41.
WD-40 (NASDAQ:WDFC) last released its earnings data on Thursday, October 17th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.08. The company had revenue of $93.50 million for the quarter, compared to the consensus estimate of $90.05 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts predict that WD-40 will post $2.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of 0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, January 2nd. This is a boost from WD-40′s previous quarterly dividend of $0.31.
WD-40 Company is a global consumer products company dedicated to delivering solutions for a range of maintenance needs of doer and on-the-job users.
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