Waddell & Reed Financial Upgraded by Jefferies Group to Buy (WDR)
Waddell & Reed Financial (NYSE:WDR) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $64.00 price objective on the stock. Jefferies Group’s target price indicates a potential upside of 17.43% from the company’s current price.
A number of other firms have also recently commented on WDR. Analysts at Susquehanna initiated coverage on shares of Waddell & Reed Financial in a research note on Thursday, August 7th. They set a “neutral” rating and a $56.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Waddell & Reed Financial in a research note on Wednesday, July 30th. They now have a $60.00 price target on the stock, down previously from $66.00. Finally, analysts at Keefe, Bruyette & Woods downgraded shares of Waddell & Reed Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 30th. They now have a $63.00 price target on the stock, down previously from $74.00. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $76.85.
Shares of Waddell & Reed Financial (NYSE:WDR) traded up 2.35% during mid-day trading on Tuesday, hitting $55.78. 776,933 shares of the company’s stock traded hands. Waddell & Reed Financial has a 52-week low of $47.20 and a 52-week high of $76.46. The stock has a 50-day moving average of $55.24 and a 200-day moving average of $63.62. The company has a market cap of $4.711 billion and a price-to-earnings ratio of 15.23.
Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, July 29th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.07. The company had revenue of $400.60 million for the quarter, compared to the consensus estimate of $405.90 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. Waddell & Reed Financial’s revenue was up 20.8% compared to the same quarter last year. Analysts expect that Waddell & Reed Financial will post $3.77 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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