WD-40 (NASDAQ:WDFC) – Stock analysts at DA Davidson decreased their FY2020 EPS estimates for shares of WD-40 in a research report issued to clients and investors on Monday, July 13th. DA Davidson analyst L. Weiser now expects that the specialty chemicals company will post earnings of $4.17 per share for the year, down from their previous forecast of $4.36. DA Davidson has a “Buy” rating and a $233.00 price objective on the stock.
Several other research analysts have also commented on WDFC. Zacks Investment Research lowered shares of WD-40 from a “hold” rating to a “sell” rating in a research note on Friday, June 19th. BidaskClub lowered shares of WD-40 from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th.
WD-40 (NASDAQ:WDFC) last announced its quarterly earnings results on Thursday, July 9th. The specialty chemicals company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.02). WD-40 had a net margin of 12.30% and a return on equity of 33.97%. The company had revenue of $98.20 million for the quarter. During the same period in the previous year, the company posted $1.30 EPS. WD-40’s revenue was down 13.9% on a year-over-year basis.
Institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont lifted its stake in WD-40 by 75.0% in the first quarter. Trust Co. of Vermont now owns 175 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in WD-40 in the second quarter worth approximately $35,000. Sunbelt Securities Inc. purchased a new position in WD-40 in the fourth quarter worth approximately $11,257,000. Macquarie Group Ltd. purchased a new position in WD-40 in the fourth quarter worth approximately $56,000. Finally, WASHINGTON TRUST Co purchased a new position in WD-40 in the first quarter worth approximately $60,000. Institutional investors own 88.41% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a $0.67 dividend. The ex-dividend date is Thursday, July 16th. This represents a $2.68 dividend on an annualized basis and a yield of 1.39%. WD-40’s dividend payout ratio is currently 66.67%.
WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.
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