Q3 2018 EPS Estimates for Waddell & Reed Financial, Inc. Boosted by Analyst (WDR)

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Waddell & Reed Financial, Inc. (NYSE:WDR) – Investment analysts at William Blair increased their Q3 2018 earnings per share (EPS) estimates for Waddell & Reed Financial in a report released on Wednesday, October 17th, according to Zacks Investment Research. William Blair analyst C. Shutler now anticipates that the asset manager will earn $0.58 per share for the quarter, up from their previous forecast of $0.57.

Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, October 30th. The asset manager reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.02. The business had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $293.63 million. Waddell & Reed Financial had a return on equity of 20.10% and a net margin of 14.11%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share.

WDR has been the topic of a number of other reports. Zacks Investment Research raised Waddell & Reed Financial from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, September 11th. Credit Suisse Group reduced their price objective on Waddell & Reed Financial from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 31st. ValuEngine raised Waddell & Reed Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 8th. Citigroup set a $20.00 price objective on Waddell & Reed Financial and gave the company a “hold” rating in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada set a $17.00 price objective on Waddell & Reed Financial and gave the company a “sell” rating in a research note on Wednesday, October 31st. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company has a consensus rating of “Sell” and an average target price of $20.38.

Shares of NYSE:WDR traded down $0.46 on Friday, reaching $19.85. 683,623 shares of the company traded hands, compared to its average volume of 1,368,283. Waddell & Reed Financial has a 52 week low of $17.53 and a 52 week high of $23.82. The stock has a market capitalization of $1.58 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.17 and a beta of 1.64. The company has a current ratio of 4.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.11.

Several institutional investors have recently bought and sold shares of the company. Laurion Capital Management LP purchased a new stake in Waddell & Reed Financial in the second quarter worth about $191,000. Northern Trust Corp lifted its holdings in Waddell & Reed Financial by 6.7% in the second quarter. Northern Trust Corp now owns 1,109,360 shares of the asset manager’s stock worth $19,935,000 after buying an additional 69,363 shares during the period. First Trust Advisors LP lifted its holdings in Waddell & Reed Financial by 4.4% in the second quarter. First Trust Advisors LP now owns 327,347 shares of the asset manager’s stock worth $5,882,000 after buying an additional 13,659 shares during the period. Wells Fargo & Company MN lifted its holdings in Waddell & Reed Financial by 7.6% in the first quarter. Wells Fargo & Company MN now owns 191,842 shares of the asset manager’s stock worth $3,877,000 after buying an additional 13,606 shares during the period. Finally, Cambria Investment Management L.P. purchased a new stake in Waddell & Reed Financial in the second quarter worth about $1,458,000. Institutional investors own 98.20% of the company’s stock.

In other news, Director Alan W. Kosloff sold 19,614 shares of the stock in a transaction dated 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 in the company, valued at $452,997.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.40% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Thursday, October 11th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.04%. Waddell & Reed Financial’s dividend payout ratio is currently 52.08%.

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

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