$286.38 Million in Sales Expected for Waddell & Reed (WDR) This Quarter

Brokerages predict that Waddell & Reed (NYSE:WDR) will announce sales of $286.38 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Waddell & Reed’s earnings, with the lowest sales estimate coming in at $282.46 million and the highest estimate coming in at $290.30 million. Waddell & Reed reported sales of $286.56 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.1%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, May 1st.

On average, analysts expect that Waddell & Reed will report full-year sales of $286.38 million for the current fiscal year, with estimates ranging from $1.10 billion to $1.16 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.11 billion per share, with estimates ranging from $1.03 billion to $1.19 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Waddell & Reed.

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Waddell & Reed (NYSE:WDR) last announced its quarterly earnings data on Tuesday, January 30th. The asset manager reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Waddell & Reed had a net margin of 10.72% and a return on equity of 16.63%. The firm had revenue of $294.48 million for the quarter, compared to analysts’ expectations of $286.55 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis.

A number of equities analysts have issued reports on the stock. Citigroup raised shares of Waddell & Reed from a “sell” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research note on Wednesday, January 31st. Morgan Stanley raised their price objective on shares of Waddell & Reed from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Tuesday, February 13th. Bank of America set a $20.00 price objective on shares of Waddell & Reed and gave the company a “sell” rating in a research note on Tuesday, January 30th. Jefferies Group reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Waddell & Reed in a research note on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Waddell & Reed in a research note on Friday, December 22nd. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $21.75.

WDR stock traded down $0.32 during midday trading on Monday, reaching $18.98. The company’s stock had a trading volume of 1,618,824 shares, compared to its average volume of 1,460,303. Waddell & Reed has a 52 week low of $16.32 and a 52 week high of $23.82. The stock has a market cap of $1,608.88, a PE ratio of 9.89 and a beta of 1.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 3.09.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, April 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.27%. Waddell & Reed’s dividend payout ratio is 52.08%.

In other news, Director Jerry W. Walton sold 5,792 shares of Waddell & Reed stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.95, for a total transaction of $132,926.40. Following the transaction, the director now directly owns 81,332 shares of the company’s stock, valued at $1,866,569.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Waddell & Reed by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,485,645 shares of the asset manager’s stock worth $368,289,000 after purchasing an additional 67,209 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Waddell & Reed by 9.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,945,385 shares of the asset manager’s stock worth $59,113,000 after purchasing an additional 249,118 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Waddell & Reed by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,929,598 shares of the asset manager’s stock worth $43,107,000 after purchasing an additional 5,515 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Waddell & Reed by 13.0% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,060,668 shares of the asset manager’s stock worth $23,695,000 after purchasing an additional 122,286 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Waddell & Reed by 383.0% during the fourth quarter. Renaissance Technologies LLC now owns 822,500 shares of the asset manager’s stock worth $18,375,000 after purchasing an additional 652,200 shares in the last quarter. 97.43% of the stock is currently owned by institutional investors.

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About Waddell & Reed

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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