Analysts expect Waddell & Reed Financial, Inc. (NYSE:WDR) to post $286.38 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Waddell & Reed Financial’s earnings, with estimates ranging from $282.46 million to $290.30 million. Waddell & Reed Financial reported sales of $286.56 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that Waddell & Reed Financial will report full year sales of $286.38 million for the current financial year, with estimates ranging from $1.10 billion to $1.16 billion. For the next year, analysts forecast that the business will post sales of $1.11 billion per share, with estimates ranging from $1.03 billion to $1.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Waddell & Reed Financial.
Waddell & Reed Financial (NYSE:WDR) last announced its quarterly earnings results on Tuesday, January 30th. The asset manager reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $294.48 million during the quarter, compared to analysts’ expectations of $286.55 million. Waddell & Reed Financial had a net margin of 10.72% and a return on equity of 16.63%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 earnings per share.
A number of research firms have recently issued reports on WDR. Keefe, Bruyette & Woods restated a “hold” rating and set a $23.00 target price on shares of Waddell & Reed Financial in a research note on Friday, December 22nd. Morgan Stanley raised their target price on shares of Waddell & Reed Financial from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 13th. Royal Bank of Canada restated a “sell” rating and set a $20.00 target price on shares of Waddell & Reed Financial in a research note on Wednesday, January 31st. Jefferies Group restated a “hold” rating and set a $23.00 target price on shares of Waddell & Reed Financial in a research note on Thursday, January 11th. Finally, Citigroup upgraded shares of Waddell & Reed Financial from a “sell” rating to a “neutral” rating and set a $24.00 target price for the company in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.75.
In related news, Director Jerry W. Walton sold 5,792 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $22.95, for a total transaction of $132,926.40. Following the transaction, the director now directly owns 81,332 shares of the company’s stock, valued at $1,866,569.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO John E. Sundeen, Jr. sold 45,168 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $22.48, for a total transaction of $1,015,376.64. Following the transaction, the chief accounting officer now directly owns 270,437 shares in the company, valued at $6,079,423.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,233 shares of company stock worth $1,849,131. 3.40% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in WDR. Renaissance Technologies LLC increased its position in Waddell & Reed Financial by 383.0% during the fourth quarter. Renaissance Technologies LLC now owns 822,500 shares of the asset manager’s stock worth $18,375,000 after acquiring an additional 652,200 shares during the period. Principal Financial Group Inc. increased its holdings in Waddell & Reed Financial by 83.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,197,096 shares of the asset manager’s stock valued at $24,026,000 after buying an additional 544,817 shares during the period. Chicago Equity Partners LLC increased its holdings in Waddell & Reed Financial by 4,864.9% in the 4th quarter. Chicago Equity Partners LLC now owns 506,918 shares of the asset manager’s stock valued at $11,325,000 after buying an additional 496,708 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Waddell & Reed Financial in the 4th quarter valued at about $7,059,000. Finally, Dimensional Fund Advisors LP increased its holdings in Waddell & Reed Financial by 9.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,945,385 shares of the asset manager’s stock valued at $59,113,000 after buying an additional 249,118 shares during the period. 97.43% of the stock is currently owned by institutional investors and hedge funds.
Waddell & Reed Financial stock traded down $0.20 during midday trading on Friday, hitting $19.87. 1,996,645 shares of the stock were exchanged, compared to its average volume of 1,475,600. The company has a current ratio of 3.09, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1,673.07, a PE ratio of 13.43 and a beta of 2.03. Waddell & Reed Financial has a one year low of $16.11 and a one year high of $23.82.
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Waddell & Reed Financial Company Profile
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.
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