Waddell & Reed Financial Inc. to Post Q3 2016 Earnings of $0.49 Per Share, Jefferies Group Forecasts (WDR)
Waddell & Reed Financial Inc. (NYSE:WDR) – Jefferies Group lifted their Q3 2016 earnings per share estimates for shares of Waddell & Reed Financial in a research report issued on Tuesday. Jefferies Group analyst D. Fannon now forecasts that the brokerage will earn $0.49 per share for the quarter, up from their prior estimate of $0.48. Jefferies Group currently has a “Hold” rating and a $19.00 target price on the stock. Jefferies Group also issued estimates for Waddell & Reed Financial’s Q4 2016 earnings at $0.50 EPS, FY2016 earnings at $2.02 EPS, Q2 2017 earnings at $0.46 EPS, Q3 2017 earnings at $0.48 EPS, Q4 2017 earnings at $0.49 EPS and FY2017 earnings at $1.88 EPS.
A number of other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Citigroup Inc. raised shares of Waddell & Reed Financial from a “sell” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research report on Tuesday, July 12th. RBC Capital Markets set a $26.00 price objective on shares of Waddell & Reed Financial and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Royal Bank Of Canada cut their price objective on shares of Waddell & Reed Financial from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Finally, Morgan Stanley reissued a “sell” rating and set a $17.00 price objective on shares of Waddell & Reed Financial in a research report on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $23.82.
Shares of Waddell & Reed Financial (NYSE:WDR) traded down 1.91% on Thursday, reaching $17.47. 308,541 shares of the company’s stock traded hands. Waddell & Reed Financial has a 12-month low of $15.70 and a 12-month high of $38.85. The stock has a 50-day moving average price of $18.10 and a 200-day moving average price of $19.35. The company has a market cap of $1.45 billion, a PE ratio of 7.97 and a beta of 1.78.
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Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.48 by $0.11. Waddell & Reed Financial had a net margin of 13.16% and a return on equity of 26.65%. The business had revenue of $319.20 million for the quarter, compared to analyst estimates of $312.82 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Waddell & Reed Financial’s quarterly revenue was down 19.0% on a year-over-year basis.
A number of large investors have recently bought and sold shares of the stock. BlackRock Fund Advisors raised its stake in Waddell & Reed Financial by 3.1% in the second quarter. BlackRock Fund Advisors now owns 9,018,786 shares of the company’s stock valued at $155,303,000 after buying an additional 272,298 shares during the period. Vanguard Group Inc. raised its stake in Waddell & Reed Financial by 2.0% in the second quarter. Vanguard Group Inc. now owns 5,722,165 shares of the company’s stock valued at $98,536,000 after buying an additional 113,873 shares during the period. State Street Corp raised its stake in Waddell & Reed Financial by 19.1% in the second quarter. State Street Corp now owns 2,864,834 shares of the company’s stock valued at $49,329,000 after buying an additional 459,301 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Waddell & Reed Financial by 155.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,724,685 shares of the company’s stock valued at $46,919,000 after buying an additional 1,656,992 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Waddell & Reed Financial by 1.5% in the third quarter. Fisher Asset Management LLC now owns 1,939,684 shares of the company’s stock valued at $35,225,000 after buying an additional 28,730 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 11th will be paid a $0.46 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.84 annualized dividend and a yield of 10.33%. Waddell & Reed Financial’s dividend payout ratio (DPR) is 83.64%.
About Waddell & Reed Financial
Waddell & Reed Financial, Inc is a mutual fund and asset management company. The Company provides investment management, investment advisory, investment product underwriting and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds, Ivy Funds, Ivy Funds Variable Insurance Portfolios, InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
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