Zacks: Brokerages Expect WisdomTree Investments, Inc. (WETF) Will Post Quarterly Sales of $58.52 Million
Wall Street analysts predict that WisdomTree Investments, Inc. (NASDAQ:WETF) will post sales of $58.52 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for WisdomTree Investments’ earnings, with the lowest sales estimate coming in at $58.02 million and the highest estimate coming in at $59.05 million. WisdomTree Investments posted sales of $51.79 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13%. The firm is scheduled to issue its next earnings results on Friday, October 27th.
On average, analysts expect that WisdomTree Investments will report full year sales of $58.52 million for the current year, with estimates ranging from $229.40 million to $238.33 million. For the next year, analysts forecast that the company will report sales of $262.64 million per share, with estimates ranging from $246.90 million to $277.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for WisdomTree Investments.
WisdomTree Investments (NASDAQ:WETF) last posted its quarterly earnings data on Friday, July 28th. The asset manager reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. WisdomTree Investments had a net margin of 13.33% and a return on equity of 15.41%. The business had revenue of $63.40 million during the quarter, compared to analysts’ expectations of $57.27 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. WisdomTree Investments’s revenue was up 13.2% compared to the same quarter last year.
WETF has been the subject of several recent research reports. Citigroup Inc. upgraded WisdomTree Investments from a “neutral” rating to a “buy” rating and set a $10.50 price objective for the company in a research report on Monday, May 15th. BidaskClub upgraded WisdomTree Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of WisdomTree Investments in a research report on Wednesday, June 28th. Zacks Investment Research upgraded WisdomTree Investments from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, July 4th. Finally, ValuEngine downgraded WisdomTree Investments from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.11.
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Shares of WisdomTree Investments (WETF) opened at 9.30 on Friday. The company’s 50-day moving average is $10.26 and its 200 day moving average is $9.44. WisdomTree Investments has a 52-week low of $7.87 and a 52-week high of $13.32. The company has a market cap of $1.25 billion, a PE ratio of 42.27 and a beta of 3.09.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, August 7th. This represents a $0.32 annualized dividend and a dividend yield of 3.44%. WisdomTree Investments’s dividend payout ratio (DPR) is presently 145.46%.
In related news, Director Bruce I. Lavine sold 10,289 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $10.10, for a total value of $103,918.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.10% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of WETF. Penserra Capital Management LLC purchased a new stake in shares of WisdomTree Investments during the second quarter valued at $107,000. State of Alaska Department of Revenue purchased a new stake in shares of WisdomTree Investments during the first quarter valued at $115,000. Capstone Asset Management Co. purchased a new stake in shares of WisdomTree Investments during the first quarter valued at $120,000. Tudor Investment Corp ET AL purchased a new stake in shares of WisdomTree Investments during the first quarter valued at $123,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of WisdomTree Investments during the second quarter valued at $133,000. 95.28% of the stock is currently owned by institutional investors.
About WisdomTree Investments
WisdomTree Investments, Inc is an asset management company that focuses on exchange-traded funds (ETFs). The Company’s family of ETFs includes funds that track its own indexes, funds that track third party indexes and actively managed funds. It operates as an exchange traded products sponsor and asset manager providing investment advisory services in the United States, Europe, Canada and Japan.
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