Zacks: Brokerages Expect Waddell & Reed Financial, Inc. (WDR) to Post $0.56 EPS

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Equities analysts expect Waddell & Reed Financial, Inc. (NYSE:WDR) to post earnings of $0.56 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Waddell & Reed Financial’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.57. Waddell & Reed Financial reported earnings of $0.45 per share during the same quarter last year, which suggests a positive year over year growth rate of 24.4%. The business is scheduled to report its next earnings results before the market opens on Tuesday, October 30th.

On average, analysts expect that Waddell & Reed Financial will report full year earnings of $2.20 per share for the current financial year, with EPS estimates ranging from $2.16 to $2.24. For the next fiscal year, analysts forecast that the company will report earnings of $2.16 per share, with EPS estimates ranging from $2.05 to $2.40. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Waddell & Reed Financial.

Waddell & Reed Financial (NYSE:WDR) last posted its quarterly earnings results on Tuesday, July 31st. The asset manager reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. Waddell & Reed Financial had a return on equity of 19.29% and a net margin of 13.47%. The company had revenue of $295.34 million during the quarter, compared to analysts’ expectations of $288.92 million. During the same quarter in the previous year, the firm earned $0.29 EPS. Waddell & Reed Financial’s revenue was up 3.0% on a year-over-year basis.

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $23.00 price target on shares of Waddell & Reed Financial in a report on Wednesday, August 1st. Zacks Investment Research raised Waddell & Reed Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Finally, ValuEngine cut Waddell & Reed Financial from a “hold” rating to a “sell” rating in a report on Wednesday, June 13th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Waddell & Reed Financial presently has an average rating of “Hold” and a consensus price target of $20.63.

Shares of Waddell & Reed Financial stock traded up $0.04 during trading on Friday, reaching $21.02. 666,350 shares of the company’s stock were exchanged, compared to its average volume of 1,013,369. 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 1-year low of $17.53 and a 1-year high of $23.82. The stock has a market capitalization of $1.69 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.28 and a beta of 1.84.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Thursday, October 11th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 10th. This represents a $1.00 dividend on an annualized basis and a yield of 4.76%. Waddell & Reed Financial’s dividend payout ratio is currently 52.08%.

In related news, Director Alan W. Kosloff sold 19,614 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $20.42, for a total transaction of $400,517.88. Following the sale, the director now owns 22,184 shares in the company, valued at approximately $452,997.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its position in Waddell & Reed Financial by 6.7% during the 2nd quarter. Northern Trust Corp now owns 1,109,360 shares of the asset manager’s stock worth $19,935,000 after acquiring an additional 69,363 shares during the last quarter. FMR LLC grew its position in Waddell & Reed Financial by 10.0% during the 2nd quarter. FMR LLC now owns 4,691,739 shares of the asset manager’s stock worth $84,311,000 after acquiring an additional 424,816 shares during the last quarter. Schroder Investment Management Group grew its position in Waddell & Reed Financial by 4.6% during the 2nd quarter. Schroder Investment Management Group now owns 1,744,999 shares of the asset manager’s stock worth $31,253,000 after acquiring an additional 77,100 shares during the last quarter. Vident Investment Advisory LLC grew its position in Waddell & Reed Financial by 18.4% during the 2nd quarter. Vident Investment Advisory LLC now owns 190,051 shares of the asset manager’s stock worth $3,415,000 after acquiring an additional 29,469 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Waddell & Reed Financial by 66.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,382 shares of the asset manager’s stock worth $402,000 after acquiring an additional 8,941 shares during the last quarter. Institutional investors and hedge funds own 98.16% of the company’s stock.

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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