Waddell & Reed Financial Upgraded to “Buy” by Gabelli (WDR)
Waddell & Reed Financial (NYSE:WDR) was upgraded by equities research analysts at Gabelli from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a $131.40 price target on the stock, up from their previous price target of $4.70. Gabelli’s target price suggests a potential upside of 97.80% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on WDR. Analysts at Zacks reiterated an “outperform” rating on shares of Waddell & Reed Financial in a research note on Tuesday, April 15th. They now have a $74.50 price target on the stock. Separately, analysts at Citigroup Inc. cut their price target on shares of Waddell & Reed Financial from $86.00 to $85.00 in a research note on Wednesday, April 9th. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of Waddell & Reed Financial from $75.00 to $80.00 in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $79.79.
Shares of Waddell & Reed Financial (NYSE:WDR) traded up 0.17% on Tuesday, hitting $66.54. The stock had a trading volume of 945,265 shares. Waddell & Reed Financial has a 1-year low of $41.53 and a 1-year high of $76.46. The stock has a 50-day moving average of $70.8 and a 200-day moving average of $66.24. The company has a market cap of $5.646 billion and a price-to-earnings ratio of 22.47.
Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, April 29th. The company reported $0.88 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.85 by $0.03. The company had revenue of $390.40 million for the quarter, compared to the consensus estimate of $388.87 million. During the same quarter last year, the company posted $0.63 earnings per share. Waddell & Reed Financial’s revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that Waddell & Reed Financial will post $3.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 1st. Investors of record on Monday, April 14th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, April 10th.
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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