Equities research analysts expect that Waddell & Reed Financial, Inc. (NYSE:WDR) will announce sales of $287.43 million for the current fiscal quarter, Zacks reports. Two analysts have provided 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 firm is expected to issue its next quarterly earnings results on Tuesday, October 23rd.
On average, analysts expect that Waddell & Reed Financial will report full year sales of $1.17 billion for the current fiscal year, with estimates ranging from $1.16 billion to $1.18 billion. For the next fiscal year, analysts expect that the business will post sales of $1.13 billion per share, with estimates ranging from $1.10 billion to $1.18 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Waddell & Reed Financial.
Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, July 31st. The asset manager reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. Waddell & Reed Financial had a net margin of 13.47% and a return on equity of 19.29%. The firm had revenue of $295.34 million during the quarter, compared to the consensus estimate of $288.92 million. During the same period in the previous year, the firm earned $0.29 earnings per share. Waddell & Reed Financial’s revenue was up 3.0% compared to the same quarter last year.
Shares of WDR stock opened at $21.27 on Friday. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 1.25 and a beta of 1.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.75 and a current ratio of 3.99. Waddell & Reed Financial has a fifty-two week low of $17.53 and a fifty-two week high of $23.82.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Thursday, October 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.70%. Waddell & Reed Financial’s payout ratio is currently 52.08%.
In other news, Director Alan W. Kosloff sold 19,614 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 22,184 shares of the company’s stock, valued at $452,997.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of WDR. BlackRock Inc. lifted its position 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 purchasing an additional 1,714,970 shares in the last quarter. Millennium Management LLC lifted its position in shares of Waddell & Reed Financial by 813.1% during the first quarter. Millennium Management LLC now owns 709,347 shares of the asset manager’s stock worth $14,336,000 after purchasing an additional 631,665 shares in the last quarter. Foundry Partners LLC acquired a new stake in Waddell & Reed Financial in the first quarter valued at $10,314,000. Citigroup Inc. raised its holdings in Waddell & Reed Financial by 560.7% in the first quarter. Citigroup Inc. now owns 549,108 shares of the asset manager’s stock valued at $11,097,000 after acquiring an additional 466,002 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its holdings in Waddell & Reed Financial by 909.6% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 506,386 shares of the asset manager’s stock valued at $10,234,000 after acquiring an additional 456,230 shares in the last quarter. 98.16% 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.
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