Jefferies Cuts Price Target on Waddell & Reed Financial (WDR); Reiterates Hold
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Waddell & Reed Financial, Inc. Reports Third Quarter Results
October 25, 2016 6:45 AM EDTOVERLAND PARK, Kan.--(BUSINESS WIRE)-- Waddell & Reed Financial, Inc. (NYSE: WDR) today reported third quarter 2016 net income1 of $53.8 million, or $0.65 per diluted share, compared to net income of $33.7 million, or $0.41 per diluted share, during the prior quarter and net income of $48.1 million, or $0.58 per diluted share, during the third quarter of 2015. Operating income was $73.8 million during the current quarter and the operating margin was 24.3%, compared to $53.8 million and 16.8%, respectively, during the prior quarter and $109.0 million and 29.0%, respectively, during the same quarter in 2015.
The third quarter of 2016 included a curtailment gain of $8.5... More
