WD-40 (NASDAQ:WDFC) Forecasted to Earn Q3 2024 Earnings of $1.27 Per Share

WD-40 (NASDAQ:WDFC) – Investment analysts at DA Davidson cut their Q3 2024 earnings per share (EPS) estimates for shares of WD-40 in a research note issued on Thursday, June 20th. DA Davidson analyst L. Weiser now anticipates that the specialty chemicals company will post earnings of $1.27 per share for the quarter, down from their previous estimate of $1.33. 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 quarterly 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 for 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 company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 earnings per share.

WD-40 Stock Down 0.9 %

WDFC stock opened at $221.60 on Friday. WD-40 has a 1-year low of $182.53 and a 1-year high of $278.78. The firm has a market capitalization of $3.00 billion, a PE ratio of 44.23 and a beta of -0.07. The business’s 50 day simple moving average is $228.93 and its 200 day simple moving average is $244.98. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40.

WD-40 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 19th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, July 19th. WD-40’s payout ratio is 70.26%.

Insider Activity at WD-40

In other news, CEO Steven A. Brass acquired 432 shares of the stock in a transaction on Tuesday, April 16th. The shares were purchased at an average price of $232.22 per share, for a total transaction of $100,319.04. Following the transaction, the chief executive officer now directly owns 20,547 shares of the company’s stock, valued at $4,771,424.34. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director David Pendarvis purchased 328 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was acquired at an average cost of $234.75 per share, for a total transaction of $76,998.00. Following the completion of the purchase, the director now owns 4,934 shares in the company, valued at approximately $1,158,256.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven A. Brass purchased 432 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was bought at an average price of $232.22 per share, for a total transaction of $100,319.04. Following the transaction, the chief executive officer now directly owns 20,547 shares of the company’s stock, valued at approximately $4,771,424.34. The disclosure for this purchase can be found here. Insiders bought 973 shares of company stock worth $226,910 in the last ninety days. 0.65% of the stock is owned by company insiders.

Institutional Trading of WD-40

A number of institutional investors and hedge funds have recently made changes to their positions in WDFC. YHB Investment Advisors Inc. bought a new stake in WD-40 during the first quarter worth $33,000. DekaBank Deutsche Girozentrale bought a new position in WD-40 in the 1st quarter valued at approximately $34,000. GAMMA Investing LLC acquired a new stake in WD-40 in the fourth quarter valued at approximately $44,000. Advisors Asset Management Inc. bought a new stake in shares of WD-40 during the first quarter worth $43,000. Finally, Covestor Ltd lifted its stake in shares of WD-40 by 57.7% in the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 79 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

About WD-40

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.