WD-40 Company (NASDAQ:WDFC) – Investment analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of WD-40 Company in a note issued to investors on Tuesday. Jefferies Group analyst D. Rizzo now expects that the specialty chemicals company will post earnings of $3.70 per share for the year, up from their previous forecast of $3.65. Jefferies Group has a “Hold” rating and a $110.00 price target on the stock. Jefferies Group also issued estimates for WD-40 Company’s Q4 2017 earnings at $0.99 EPS.
WD-40 Company (NASDAQ:WDFC) last released its quarterly earnings results on Monday, July 10th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.11. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $99.09 million. WD-40 Company had a return on equity of 39.64% and a net margin of 13.85%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS.
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Several other analysts have also commented on the company. Zacks Investment Research raised WD-40 Company from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Thursday, May 11th. BidaskClub raised WD-40 Company from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. FBR & Co reaffirmed a “marketperform” rating on shares of WD-40 Company in a report on Tuesday. Finally, B. Riley reaffirmed a “neutral” rating and set a $116.00 target price on shares of WD-40 Company in a report on Thursday, April 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $111.50.
Shares of WD-40 Company (NASDAQ WDFC) traded up 0.75% on Wednesday, hitting $106.80. The company had a trading volume of 7,592 shares. WD-40 Company has a 52 week low of $100.60 and a 52 week high of $125.00. The stock’s 50-day moving average is $107.70 and its 200 day moving average is $108.22. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 28.86 and a beta of 0.74.
Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in shares of WD-40 Company during the fourth quarter valued at approximately $1,988,000. Comerica Bank raised its stake in shares of WD-40 Company by 5.2% in the fourth quarter. Comerica Bank now owns 15,110 shares of the specialty chemicals company’s stock worth $1,554,000 after buying an additional 752 shares in the last quarter. State Street Corp raised its stake in shares of WD-40 Company by 8.1% in the fourth quarter. State Street Corp now owns 339,636 shares of the specialty chemicals company’s stock worth $39,699,000 after buying an additional 25,556 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of WD-40 Company by 14.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,220 shares of the specialty chemicals company’s stock worth $610,000 after buying an additional 663 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of WD-40 Company during the fourth quarter worth about $757,000. 82.38% of the stock is currently owned by institutional investors.
In other WD-40 Company news, VP Jay Rembolt sold 615 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $112.00, for a total value of $68,880.00. Following the sale, the vice president now directly owns 37,219 shares of the company’s stock, valued at $4,168,528. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mario L. Crivello sold 4,726 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $104.25, for a total value of $492,685.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,580 shares of company stock worth $696,614. 3.90% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 21st will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.85%. The ex-dividend date is Wednesday, July 19th. WD-40 Company’s dividend payout ratio (DPR) is 52.97%.
About WD-40 Company
WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.
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