Brokers Offer Predictions for WD-40’s Q3 2024 Earnings (NASDAQ:WDFC)

WD-40 (NASDAQ:WDFC) – Research analysts at DA Davidson issued their Q3 2024 EPS estimates for shares of WD-40 in a research note issued on Thursday, April 11th. DA Davidson analyst L. Weiser expects that the specialty chemicals company will post earnings per share of $1.33 for the quarter. DA Davidson currently has a “Buy” rating and a $313.00 target price on the stock. The consensus estimate for WD-40’s current full-year earnings is $5.22 per share.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.01. The firm had revenue of $139.10 million during the quarter, compared to analyst estimates of $140.51 million. WD-40 had a net margin of 12.19% and a return on equity of 32.30%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 EPS.

WD-40 Price Performance

Shares of NASDAQ:WDFC opened at $236.29 on Friday. The company’s 50-day moving average is $257.31 and its 200 day moving average is $240.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.58 and a current ratio of 2.27. The company has a market capitalization of $3.20 billion, a P/E ratio of 47.15 and a beta of -0.06. WD-40 has a fifty-two week low of $175.79 and a fifty-two week high of $278.78.

Hedge Funds Weigh In On WD-40

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDFC. GAMMA Investing LLC bought a new stake in WD-40 in the 4th quarter worth about $44,000. Quantbot Technologies LP purchased a new position in shares of WD-40 during the 2nd quarter valued at about $44,000. Dark Forest Capital Management LP purchased a new position in shares of WD-40 during the 1st quarter valued at about $53,000. Pacer Advisors Inc. purchased a new position in shares of WD-40 during the 4th quarter valued at about $56,000. Finally, Lazard Asset Management LLC lifted its holdings in WD-40 by 1,805.3% in the 4th quarter. Lazard Asset Management LLC now owns 362 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Insider Buying and Selling at WD-40

In other WD-40 news, Director David Pendarvis acquired 328 shares of the company’s stock in a transaction on Friday, April 12th. The shares were acquired at an average cost of $234.75 per share, with a total value of $76,998.00. Following the completion of the acquisition, the director now directly owns 4,934 shares in the company, valued at $1,158,256.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other WD-40 news, Director David Pendarvis purchased 328 shares of WD-40 stock in a transaction on Friday, April 12th. The shares were acquired at an average cost of $234.75 per share, for a total transaction of $76,998.00. Following the completion of the transaction, the director now directly owns 4,934 shares of the company’s stock, valued at $1,158,256.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Jeffrey G. Lindeman acquired 182 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $272.42 per share, with a total value of $49,580.44. Following the purchase, the vice president now owns 3,073 shares of the company’s stock, valued at approximately $837,146.66. The disclosure for this purchase can be found here. Insiders own 0.65% of the company’s stock.

WD-40 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, April 18th. WD-40’s dividend payout ratio (DPR) is presently 70.26%.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.