Gabelli Weighs in on Waddell & Reed Financial, Inc.’s FY2018 Earnings (WDR)

Waddell & Reed Financial, Inc. (NYSE:WDR) – Stock analysts at Gabelli reduced their FY2018 EPS estimates for Waddell & Reed Financial in a research note issued on Wednesday, October 31st. Gabelli analyst M. Sykes now forecasts that the asset manager will earn $2.15 per share for the year, down from their prior forecast of $2.20. Gabelli also issued estimates for Waddell & Reed Financial’s FY2019 earnings at $2.10 EPS, FY2020 earnings at $2.30 EPS, FY2021 earnings at $2.45 EPS and FY2022 earnings at $2.60 EPS.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, October 16th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $23.00 price objective on shares of Waddell & Reed Financial in a report on Wednesday, August 1st. Credit Suisse Group decreased their price objective on shares of Waddell & Reed Financial from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Wednesday. Citigroup set a $20.00 price objective on shares of Waddell & Reed Financial and gave the company a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada set a $17.00 price objective on shares of Waddell & Reed Financial and gave the company a “sell” rating in a report on Wednesday. Five investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Sell” and a consensus target price of $20.38.

WDR opened at $19.17 on Friday. 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 twelve month low of $17.53 and a twelve month high of $23.82. The company has a market cap of $1.53 billion, a PE ratio of 9.98, a P/E/G ratio of 1.11 and a beta of 1.64.

Waddell & Reed Financial (NYSE:WDR) last issued its earnings results on Tuesday, October 30th. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Waddell & Reed Financial had a net margin of 14.11% and a return on equity of 20.17%. The firm had revenue of $295.10 million for the quarter, compared to the consensus estimate of $293.63 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Thursday, October 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, October 10th. This represents a $1.00 dividend on an annualized basis and a yield of 5.22%. Waddell & Reed Financial’s dividend payout ratio is currently 52.08%.

In other Waddell & Reed Financial news, Director Alan W. Kosloff sold 19,614 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $20.42, for a total transaction of $400,517.88. Following the completion of the sale, the director now directly owns 22,184 shares of the company’s stock, valued at $452,997.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Laurion Capital Management LP purchased a new stake in Waddell & Reed Financial during the second quarter valued at approximately $191,000. Neuburgh Advisers LLC increased its holdings in Waddell & Reed Financial by 34.2% during the second quarter. Neuburgh Advisers LLC now owns 11,044 shares of the asset manager’s stock valued at $198,000 after buying an additional 2,816 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Waddell & Reed Financial by 34.0% during the second quarter. Riverhead Capital Management LLC now owns 12,621 shares of the asset manager’s stock valued at $227,000 after buying an additional 3,200 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Waddell & Reed Financial during the third quarter valued at approximately $233,000. Finally, Tyers Asset Management LLC increased its holdings in Waddell & Reed Financial by 34.2% during the second quarter. Tyers Asset Management LLC now owns 14,056 shares of the asset manager’s stock valued at $253,000 after buying an additional 3,584 shares during the last quarter. 97.98% of the stock is owned by institutional investors and hedge funds.

Waddell & Reed Financial Company Profile

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.

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

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