WD-40 (NASDAQ:WDFC) Releases Earnings Results, Misses Estimates By $0.07 EPS

WD-40 (NASDAQ:WDFC) issued its quarterly earnings results on Wednesday. The specialty chemicals company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.07), Zacks reports. The business had revenue of $176.78 million for the quarter, compared to analyst estimates of $172.07 million. WD-40 had a return on equity of 33.53% and a net margin of 13.23%.

WD-40 Trading Down 4.4%

WDFC traded down $8.85 during trading on Wednesday, reaching $192.56. 286,138 shares of the stock traded hands, compared to its average volume of 162,892. The company has a quick ratio of 1.95, a current ratio of 2.65 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average is $206.51 and its 200 day moving average is $216.93. WD-40 has a 12 month low of $175.38 and a 12 month high of $298.90. The stock has a market capitalization of $2.58 billion, a PE ratio of 29.26 and a beta of 0.27.

WD-40 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 19th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, October 19th. This represents a $4.08 dividend on an annualized basis and a yield of 2.1%. WD-40’s dividend payout ratio is 62.01%.

Analyst Upgrades and Downgrades

A number of research firms have commented on WDFC. Zacks Research lowered WD-40 from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. Jefferies Financial Group restated a “hold” rating on shares of WD-40 in a research report on Friday, July 10th. Northcoast Research raised WD-40 to a “strong-buy” rating in a research note on Wednesday, June 24th. Weiss Ratings cut WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Finally, DA Davidson increased their target price on shares of WD-40 from $270.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $305.00.

Insider Buying and Selling at WD-40

In other news, insider Patricia Olsem sold 300 shares of WD-40 stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $233.73, for a total value of $70,119.00. Following the completion of the transaction, the insider directly owned 4,774 shares of the company’s stock, valued at approximately $1,115,827.02. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

About WD-40

WD-40 Company develops and markets maintenance, cleaning and homecare products for consumers, professional tradespeople and industrial users. Its best-known product is WD-40 Multi-Use Product, a spray designed to displace moisture, protect metal, loosen rusted parts and lubricate equipment. The company also offers WD-40 Specialist products for specific maintenance applications and the 3-IN-ONE line of lubricants.

The company’s homecare and cleaning portfolio has included brands such as X-14, 2000 Flushes and Carpet Fresh.