Waddell & Reed Financial Inc. (WDR) Shares Down 2.6%
Waddell & Reed Financial Inc. (NYSE:WDR) shares were down 2.6% on Thursday . The company traded as low as $18.02 and last traded at $18.12, with a volume of 529,432 shares. The stock had previously closed at $18.60.
A number of research analysts recently weighed in on WDR shares. Zacks Investment Research raised Waddell & Reed Financial from a “sell” rating to a “hold” rating in a report on Monday, June 6th. RBC Capital Markets set a $26.00 price objective on Waddell & Reed Financial and gave the stock a “buy” rating in a report on Wednesday, July 27th. Jefferies Group reissued a “hold” rating and issued a $18.00 target price (down previously from $23.00) on shares of Waddell & Reed Financial in a report on Monday, July 11th. Morgan Stanley reissued a “sell” rating and issued a $17.00 target price on shares of Waddell & Reed Financial in a report on Thursday, July 28th. Finally, Citigroup Inc. upped their target price on Waddell & Reed Financial from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $23.73.
The firm has a 50-day moving average of $18.61 and a 200-day moving average of $20.62. The firm has a market cap of $1.49 billion and a PE ratio of 8.23.
Waddell & Reed Financial (NYSE:WDR) last announced its earnings results on Tuesday, July 26th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.11. During the same period in the previous year, the firm earned $0.80 EPS. The business had revenue of $319.20 million for the quarter, compared to the consensus estimate of $312.82 million. The firm’s revenue was down 19.0% on a year-over-year basis. Analysts predict that Waddell & Reed Financial Inc. will post $1.87 EPS for the current fiscal year.
Waddell & Reed Financial, Inc is a mutual fund and asset management company. The Company provides investment management, investment advisory, investment product underwriting and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds, Ivy Funds, Ivy Funds Variable Insurance Portfolios, InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts.
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