Jefferies Group Comments on Waddell & Reed Financial, Inc.’s Q4 2017 Earnings (WDR)
Waddell & Reed Financial, Inc. (NYSE:WDR) – Jefferies Group lifted their Q4 2017 EPS estimates for Waddell & Reed Financial in a research report issued on Wednesday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will earn $0.45 per share for the quarter, up from their previous estimate of $0.41. Jefferies Group has a “Hold” rating and a $23.00 price target on the stock. Jefferies Group also issued estimates for Waddell & Reed Financial’s Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.54 EPS and Q4 2018 earnings at $0.55 EPS.
Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, October 24th. The asset manager reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04. The firm had revenue of $289.45 million for the quarter, compared to analysts’ expectations of $285.30 million. Waddell & Reed Financial had a net margin of 10.10% and a return on equity of 16.81%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS.
Waddell & Reed Financial (NYSE:WDR) opened at $22.17 on Thursday. The stock has a market capitalization of $1,850.00, a P/E ratio of 15.84 and a beta of 2.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.14 and a current ratio of 3.02. Waddell & Reed Financial has a 52 week low of $16.11 and a 52 week high of $22.88.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Eaton Vance Management boosted its stake in shares of Waddell & Reed Financial by 0.9% in the second quarter. Eaton Vance Management now owns 16,538 shares of the asset manager’s stock worth $312,000 after acquiring an additional 149 shares during the last quarter. Financial Counselors Inc. boosted its stake in shares of Waddell & Reed Financial by 1.5% in the second quarter. Financial Counselors Inc. now owns 21,675 shares of the asset manager’s stock worth $409,000 after acquiring an additional 330 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Waddell & Reed Financial by 3.9% in the second quarter. Franklin Resources Inc. now owns 12,607 shares of the asset manager’s stock worth $238,000 after acquiring an additional 477 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Waddell & Reed Financial by 1.4% in the second quarter. Wells Fargo & Company MN now owns 130,072 shares of the asset manager’s stock worth $2,456,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Waddell & Reed Financial by 8.1% in the second quarter. Victory Capital Management Inc. now owns 23,384 shares of the asset manager’s stock worth $441,000 after acquiring an additional 1,747 shares during the last quarter. 97.43% of the stock is currently owned by institutional investors.
In other Waddell & Reed Financial news, Director Alan W. Kosloff sold 19,178 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.82, for a total value of $380,107.96. Following the sale, the director now directly owns 52,695 shares of the company’s stock, valued at $1,044,414.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Thomas W. Butch sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $19.26, for a total value of $96,300.00. Following the completion of the sale, the chief marketing officer now directly owns 248 shares in the company, valued at $4,776.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,619 shares of company stock worth $2,192,613. 3.80% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Thursday, January 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Wednesday, January 10th. Waddell & Reed Financial’s payout ratio is currently 131.43%.
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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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