WD-40 Co. to Post FY2020 Earnings of $4.50 Per Share, Jefferies Group Forecasts (WDFC)
WD-40 Co. (NASDAQ:WDFC) – Jefferies Group cut their FY2020 earnings estimates for shares of WD-40 in a research note issued on Tuesday. Jefferies Group analyst D. Rizzo now expects that the firm will post earnings of $4.50 per share for the year, down from their previous forecast of $4.55. Jefferies Group currently has a “Hold” rating and a $110.00 target price on the stock.
WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.17. WD-40 had a return on equity of 35.59% and a net margin of 13.82%. The business earned $97.20 million during the quarter, compared to the consensus estimate of $97.47 million. During the same period in the previous year, the business earned $0.80 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis.
A number of other brokerages also recently commented on WDFC. Zacks Investment Research downgraded WD-40 from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. B. Riley reiterated a “neutral” rating and set a $120.00 price target (up previously from $106.00) on shares of WD-40 in a research note on Monday, October 17th. Finally, Wunderlich decreased their price target on WD-40 from $115.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, October 20th.
Shares of WD-40 (NASDAQ:WDFC) traded up 0.23% during midday trading on Wednesday, hitting $108.25. The stock had a trading volume of 12,736 shares. The firm has a 50-day moving average of $108.27 and a 200 day moving average of $112.94. The firm has a market cap of $1.53 billion, a PE ratio of 29.74 and a beta of 0.69. WD-40 has a 12-month low of $94.00 and a 12-month high of $125.00.
The business also recently declared a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 21st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 19th. This represents a $1.68 annualized dividend and a dividend yield of 1.56%. WD-40’s dividend payout ratio (DPR) is presently 46.15%.
In related news, Director Daniel E. Pittard purchased 295 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was bought at an average price of $115.00 per share, for a total transaction of $33,925.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mario L. Crivello sold 9,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $120.06, for a total value of $1,080,540.00. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Credit Suisse AG increased its stake in WD-40 by 1.0% in the third quarter. Credit Suisse AG now owns 42,943 shares of the company’s stock valued at $4,828,000 after buying an additional 415 shares during the period. Verition Fund Management LLC acquired a new stake in shares of WD-40 during the third quarter valued at $202,000. The Manufacturers Life Insurance Company acquired a new stake in shares of WD-40 during the third quarter valued at $1,068,000. Citadel Advisors LLC acquired a new stake in shares of WD-40 during the third quarter valued at $240,000. Finally, Morgan Stanley increased its stake in shares of WD-40 by 31.8% in the third quarter. Morgan Stanley now owns 41,890 shares of the company’s stock valued at $4,709,000 after buying an additional 10,095 shares during the last quarter. Institutional investors own 77.88% of the company’s stock.
WD-40 Company, is a global consumer Products Company. As of August 31, 2012, the Company’s products included WD-40 Smart Straw, WD-40 Trigger Pro, 3-IN-ONE Professional Garage Door Lube, Spot Shot Pet Clean which is a non-aerosol Spot Shot trigger product, and a mildew stain remover under the X-14 brand.
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