Waddell & Reed Financial Inc. (WDR) Stock Price Down 2.6%
Waddell & Reed Financial Inc. (NYSE:WDR) shares fell 2.6% during mid-day trading on Thursday . The company traded as low as $18.02 and last traded at $18.12, with a volume of 529,432 shares trading hands. The stock had previously closed at $18.60.
A number of research firms recently weighed in on WDR. Royal Bank Of Canada dropped their price target on Waddell & Reed Financial from $49.00 to $44.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 1st. Morgan Stanley reaffirmed a “sell” rating and set a $17.00 price target on shares of Waddell & Reed Financial in a research note on Thursday, July 28th. Citigroup Inc. upped their price target on Waddell & Reed Financial from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. RBC Capital Markets set a $26.00 price target on Waddell & Reed Financial and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $18.00 price target (down from $23.00) on shares of Waddell & Reed Financial in a research note on Monday, July 11th. Three equities research 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. The stock presently has an average rating of “Hold” and a consensus price target of $23.73.
The stock’s 50-day moving average is $18.63 and its 200-day moving average is $20.61. The firm has a market capitalization of $1.53 billion and a P/E ratio of 8.42.
Waddell & Reed Financial (NYSE:WDR) last posted its earnings results on Tuesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.11. The business earned $319.20 million during the quarter, compared to the consensus estimate of $312.82 million. The firm’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. On average, equities research analysts anticipate that Waddell & Reed Financial Inc. will post $1.87 EPS for the current 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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