WD-40 (NASDAQ:WDFC) Releases Earnings Results, Beats Expectations By $0.08 EPS

WD-40 (NASDAQ:WDFC) issued its earnings results on Tuesday. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08, RTT News reports. WD-40 had a return on equity of 39.13% and a net margin of 16.24%. The business had revenue of $114.00 million during the quarter, compared to analysts’ expectations of $109.40 million. During the same quarter in the previous year, the business earned $1.15 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. WD-40 updated its FY 2019 guidance to $4.58-4.65 EPS and its FY19 guidance to $4.58-4.65 EPS.

Shares of NASDAQ:WDFC opened at $175.14 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.07 and a debt-to-equity ratio of 0.41. WD-40 has a 1 year low of $145.50 and a 1 year high of $187.50. The stock has a market cap of $2.42 billion, a PE ratio of 42.41, a P/E/G ratio of 3.58 and a beta of 0.28. The business’s 50-day moving average price is $161.26.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 19th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, July 18th. WD-40’s payout ratio is currently 59.08%.

In other WD-40 news, insider Steven A. Brass sold 822 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $164.30, for a total value of $135,054.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel E. Pittard purchased 400 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was bought at an average price of $165.00 per share, with a total value of $66,000.00. The disclosure for this purchase can be found here. 2.09% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nalls Sherbakoff Group LLC purchased a new position in shares of WD-40 during the 4th quarter valued at approximately $30,000. WP Advisors LLC purchased a new position in shares of WD-40 during the 1st quarter valued at approximately $35,000. Capital Investment Advisory Services LLC boosted its stake in shares of WD-40 by 56.7% during the 1st quarter. Capital Investment Advisory Services LLC now owns 282 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 102 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of WD-40 by 12,500.0% during the 1st quarter. Quadrant Capital Group LLC now owns 504 shares of the specialty chemicals company’s stock valued at $83,000 after buying an additional 500 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of WD-40 by 12.6% during the 1st quarter. Advisory Services Network LLC now owns 618 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 89.26% of the company’s stock.

A number of brokerages have recently issued reports on WDFC. BidaskClub cut Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Zacks Investment Research upgraded Key Energy Services from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a report on Wednesday, March 13th. Finally, ValuEngine cut Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $164.50.

About WD-40

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.

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Earnings History for WD-40 (NASDAQ:WDFC)

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