Waddell & Reed Financial Given Average Recommendation of “Buy” by Analysts (NYSE:WDR)
Shares of Waddell & Reed Financial (NYSE:WDR) have received a consensus rating of “Buy” from the ten ratings firms that are covering the stock, AnalystRatings.Net reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $82.59.
Shares of Waddell & Reed Financial (NYSE:WDR) traded down 1.67% on Tuesday, hitting $61.35. 157,241 shares of the company’s stock traded hands. Waddell & Reed Financial has a 52-week low of $41.53 and a 52-week high of $76.46. The stock has a 50-day moving average of $63.96 and a 200-day moving average of $66.64. The company has a market cap of $5.229 billion and a price-to-earnings ratio of 19.45. Waddell & Reed Financial also saw a significant 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. Approximately 3.1% of the company’s stock are sold short. Based on an average daily volume of 1,203,426 shares, the short-interest ratio is currently 2.1 days.
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.
A number of research firms have recently commented on WDR. Analysts at Evercore Partners initiated coverage on shares of Waddell & Reed Financial in a research note on Friday, May 30th. They set an “equal weight” rating and a $63.00 price target on the stock. Separately, 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. Finally, 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.
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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