WD-40 (NASDAQ:WDFC) shares decline after weak earnings
Shares of WD-40 (NASDAQ:WDFC – Get Rating) fell ahead of Friday’s market open after a weaker-than-expected earnings report. The stock had previously closed at $204.85, but opened at $186.41. WD-40 shares last traded at $180.80, with a volume of 1,903 shares traded in hands. The specialty chemicals company reported EPS of $1.07 for the quarter, missing the consensus estimate of $1.27 per ($0.20). WD-40 had a return on equity of 33.73% and a net margin of 13.07%. The company posted revenue of $123.67 million in the quarter, compared to $142.80 million expected by analysts. During the same period last year, the company posted EPS of $1.52. Quarterly WD-40 sales decreased 9.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 29. Shareholders of record on Friday, July 15 will receive a dividend of $0.78 per share. The ex-dividend date is Thursday, July 14. This represents a dividend of $3.12 on an annualized basis and a dividend yield of 1.72%. WD-40’s dividend payout ratio is currently 63.93%.
WDFC has been the subject of a number of research reports. StockNews.com launched coverage on WD-40 in a research report on Thursday, March 31. They set a “hold” rating for the company. DA Davidson upgraded WD-40 from an “underperforming” rating to a “neutral” rating in a Friday, April 8 research report.
Several institutional investors have recently changed their positions in the company. Quadrant Capital Group LLC increased its stake in WD-40 shares by 386.1% during the first quarter. Quadrant Capital Group LLC now owns 175 shares of the specialty chemicals company valued at $32,000 after buying an additional 139 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. increased its stake in WD-40 shares by 50.0% during the fourth quarter. Mine & Arao Wealth Creation & Management LLC. now owns 150 shares of the specialty chemicals company valued at $37,000 after buying an additional 50 shares in the last quarter. Hardy Reed LLC bought a new stock position of WD-40 during the first quarter worth approximately $58,000. Steward Partners Investment Advisory LLC increased its stake in WD-40 shares by 22.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the specialty chemicals company valued at $61,000 after buying 61 additional shares in the last quarter. Finally, Cornerstone Advisory LLC purchased a new stock position in WD-40 during the fourth quarter worth approximately $77,000. Hedge funds and other institutional investors own 90.78% of the company’s shares.
The company has a debt ratio of 0.57, a quick ratio of 1.91 and a current ratio of 2.81. The company has a fifty-day simple moving average of $187.94 and a two-hundred-day simple moving average of $203.16. The company has a market capitalization of $2.47 billion, a PE ratio of 37.05 and a beta of -0.17.
WD-40 Company Profile (NASDAQ:WDFC)
WD-40 Company develops and sells janitorial, home care and cleaning products in the Americas, Europe, Middle East, Africa and Asia-Pacific. The company provides multi-purpose cleaning products that include aerosol, non-aerosol trigger spray and bulk liquid products under the WD-40 Multi-Use brand; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in WD-40 right now?
Before you consider WD-40, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and WD-40 wasn’t on the list.
While WD-40 currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here