$287.43 Million in Sales Expected for Waddell & Reed Financial, Inc. (WDR) This Quarter

Share on StockTwits

Wall Street analysts predict that Waddell & Reed Financial, Inc. (NYSE:WDR) will report $287.43 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Waddell & Reed Financial’s earnings, with estimates ranging from $287.40 million to $287.47 million. Waddell & Reed Financial reported sales of $289.45 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.7%. The company is expected to issue its next earnings report on Tuesday, October 23rd.

According to Zacks, analysts expect that Waddell & Reed Financial will report full-year sales of $1.17 billion for the current year, with estimates ranging from $1.16 billion to $1.18 billion. For the next financial year, analysts expect that the firm will report sales of $1.13 billion per share, with estimates ranging from $1.10 billion to $1.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Waddell & Reed Financial.

Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings results on Tuesday, July 31st. The asset manager reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $295.34 million for the quarter, compared to the consensus estimate of $288.92 million. Waddell & Reed Financial had a net margin of 13.47% and a return on equity of 19.29%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share.

WDR has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Friday, August 3rd. ValuEngine raised shares of Waddell & Reed Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 target price on shares of Waddell & Reed Financial in a research note on Wednesday, August 1st. Finally, Citigroup lowered their target price on shares of Waddell & Reed Financial from $19.50 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd. Five equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus rating of “Sell” and an average price target of $20.63.

WDR traded up $0.33 on Friday, reaching $21.05. The company had a trading volume of 972,502 shares, compared to its average volume of 1,081,081. The company has a market capitalization of $1.65 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.25 and a beta of 1.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.99 and a quick ratio of 1.75. Waddell & Reed Financial has a 52-week low of $17.53 and a 52-week high of $23.82.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Wednesday, July 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date was Tuesday, July 10th. Waddell & Reed Financial’s dividend payout ratio is currently 52.08%.

In related news, Director James M. Raines sold 2,640 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $19.93, for a total value of $52,615.20. Following the sale, the director now directly owns 24,826 shares of the company’s stock, valued at $494,782.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in WDR. BlackRock Inc. raised its stake in shares of Waddell & Reed Financial by 17.2% during the second quarter. BlackRock Inc. now owns 11,686,346 shares of the asset manager’s stock worth $210,001,000 after acquiring an additional 1,714,970 shares in the last quarter. FMR LLC raised its stake in shares of Waddell & Reed Financial by 10.0% during the second quarter. FMR LLC now owns 4,691,739 shares of the asset manager’s stock worth $84,311,000 after acquiring an additional 424,816 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Waddell & Reed Financial by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,336,488 shares of the asset manager’s stock worth $59,957,000 after acquiring an additional 245,242 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Waddell & Reed Financial by 0.7% during the second quarter. Van Berkom & Associates Inc. now owns 2,447,291 shares of the asset manager’s stock worth $43,978,000 after acquiring an additional 16,341 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Waddell & Reed Financial by 4.6% during the second quarter. Schroder Investment Management Group now owns 1,744,999 shares of the asset manager’s stock worth $31,253,000 after acquiring an additional 77,100 shares in the last quarter. 98.81% of the stock is currently owned by institutional investors and hedge funds.

About Waddell & Reed Financial

Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.

Featured Article: Technical Analysis

Get a free copy of the Zacks research report on Waddell & Reed Financial (WDR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Waddell & Reed Financial (NYSE:WDR)

Receive News & Ratings for Waddell & Reed Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waddell & Reed Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply