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WD-40 (NASDAQ:WDFC) shares were down 8.6% during trading on Thursday following a weaker than expected earnings announcement, Stock Ratings Network reports. The company traded as low as $68.60 and last traded at $69.56, with a volume of 150,406 shares trading hands. The stock had previously closed at $76.11.

The company reported $0.69 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.72 by $0.03. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $99.16 million. During the same quarter last year, the company posted $0.66 earnings per share. WD-40′s revenue was up 2.8% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 31st. Investors of record on Friday, July 11th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, July 9th.

Separately, analysts at S&P Equity Research downgraded shares of WD-40 from a “hold” rating to a “sell” rating in a research note on Friday, April 11th. They now have a $67.00 price target on the stock, down previously from $75.00. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. WD-40 presently has an average rating of “Hold” and an average target price of $76.80.

The stock’s 50-day moving average is $73.80 and its 200-day moving average is $73.23. The company has a market cap of $1.042 billion and a price-to-earnings ratio of 29.31.

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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