Waddell & Reed Financial Coverage Initiated by Analysts at Evercore Partners (WDR)
A number of other firms have also recently commented on WDR. Analysts at RBC Capital raised their price target on shares of Waddell & Reed Financial from $78.00 to $83.00 in a research note on Wednesday, April 30th. They now have an “outperform” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of Waddell & Reed Financial from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 30th. They now have a $80.00 price target on the stock, down previously from $82.00. Finally, analysts at Gabelli upgraded shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. They now have a $131.40 price target on the stock, up previously from $4.70. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $84.77.
In other Waddell & Reed Financial news, CMO Thomas Butch unloaded 17,217 shares of Waddell & Reed Financial stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.02, for a total transaction of $1,016,147.34. Following the sale, the chief marketing officer now directly owns 248 shares of the company’s stock, valued at approximately $14,637. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Waddell & Reed Financial (NYSE:WDR) opened at 60.97 on Friday. Waddell & Reed Financial has a 52 week low of $41.53 and a 52 week high of $76.46. The stock’s 50-day moving average is $65.10 and its 200-day moving average is $66.80. The company has a market cap of $5.196 billion and a price-to-earnings ratio of 19.03. Waddell & Reed Financial also saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 2,491,313 shares, an increase of 155.4% from the April 30th total of 975,462 shares. Based on an average trading volume of 1,203,426 shares, the short-interest ratio is currently 2.1 days. Currently, 3.1% of the shares of the stock are sold short.
Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Analysts expect that Waddell & Reed Financial will post $3.75 EPS for the current fiscal year.
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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