Waddell & Reed Financial Rating Reiterated by Citigroup Inc. (WDR)
Waddell & Reed Financial (NYSE:WDR)‘s stock had its “buy” rating reaffirmed by research analysts at Citigroup Inc. in a report released on Tuesday. They currently have a $71.00 price target on the stock, down from their previous price target of $85.00. Citigroup Inc.’s price target suggests a potential upside of 13.27% from the stock’s previous close.
A number of other firms have also 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Waddell & Reed Financial currently has a consensus rating of “Buy” and a consensus price target of $81.19.
Waddell & Reed Financial (NYSE:WDR) traded up 0.41% during mid-day trading on Tuesday, hitting $62.94. The stock had a trading volume of 125,879 shares. 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 $62.09 and its 200-day moving average is $66.43. The company has a market cap of $5.364 billion and a price-to-earnings ratio of 19.54. Waddell & Reed Financial also was the recipient of a large increase in short interest in May. As of May 30th, there was short interest totalling 3,580,610 shares, an increase of 43.7% from the May 15th total of 2,491,313 shares. Approximately 4.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,072,247 shares, the days-to-cover ratio is presently 3.3 days.
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.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders of record on Friday, July 11th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Wednesday, July 9th.
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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