Waddell & Reed Financial (WDR) Misses Q1 EPS by 11c
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Waddell & Reed Financial (WDR): Additional Margin Compression Is Likely - Piper Jaffray
April 27, 2016 9:37 AM EDTPiper Jaffray Waddell & Reed (NYSE: WDR) analyst, Jason Weyeneth, noted that with guidance for two thirds of a 10% targeted expense reduction initiative to hit in '16, severance and other restructuring costs over the next few quarters, and a sizable decline in revenues from asset attrition and changes to their distribution platform, considerable further margin compression appears likely. The analyst, anticipates full year margins to decline over 900 bps... More
