FY2017 Earnings Estimate for Waddell & Reed Financial, Inc. Issued By William Blair (WDR)
Waddell & Reed Financial, Inc. (NYSE:WDR) – William Blair decreased their FY2017 earnings estimates for Waddell & Reed Financial in a research note issued to investors on Thursday. William Blair analyst C. Shutler now anticipates that the asset manager will earn $1.50 per share for the year, down from their previous forecast of $1.67. William Blair also issued estimates for Waddell & Reed Financial’s Q4 2017 earnings at $0.39 EPS.
Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, August 1st. The asset manager reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $286.70 million during the quarter, compared to the consensus estimate of $285.25 million. Waddell & Reed Financial had a return on equity of 18.74% and a net margin of 11.34%. The company’s revenue was down 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. ILLEGAL ACTIVITY NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/07/fy2017-earnings-estimate-for-waddell-reed-financial-inc-issued-by-william-blair-wdr.html.
Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Waddell & Reed Financial in a research note on Thursday. Jefferies Group LLC reissued a “hold” rating and set a $19.00 target price (down previously from $20.00) on shares of Waddell & Reed Financial in a research report on Wednesday, August 2nd. Royal Bank Of Canada set a $18.00 target price on shares of Waddell & Reed Financial and gave the stock a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Waddell & Reed Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Morgan Stanley reissued an “underweight” rating and set a $15.00 target price (up previously from $14.00) on shares of Waddell & Reed Financial in a research report on Monday, July 10th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.81.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 11th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 9.39%. The ex-dividend date was Friday, July 7th. Waddell & Reed Financial’s dividend payout ratio is 115.72%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advantus Capital Management Inc raised its position in Waddell & Reed Financial by 4.8% in the first quarter. Advantus Capital Management Inc now owns 10,790 shares of the asset manager’s stock worth $183,000 after buying an additional 498 shares in the last quarter. Bridgecreek Investment Management LLC increased its position in Waddell & Reed Financial by 10.0% in the first quarter. Bridgecreek Investment Management LLC now owns 11,000 shares of the asset manager’s stock valued at $187,000 after buying an additional 1,000 shares during the last quarter. CIBC Asset Management Inc bought a new position in Waddell & Reed Financial during the second quarter valued at about $194,000. HPM Partners LLC bought a new position in Waddell & Reed Financial during the first quarter valued at about $201,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Waddell & Reed Financial by 0.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,310 shares of the asset manager’s stock valued at $209,000 after buying an additional 50 shares during the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.
About Waddell & Reed Financial
Waddell & Reed Financial, Inc, incorporated on December 24, 1981, is a holding company. The Company 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 (the Advisors Funds), Ivy Funds, Ivy Funds Variable Insurance Portfolios (Ivy Funds VIP), InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV (the SICAV) and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
Receive News & Ratings for Waddell & Reed Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waddell & Reed Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.