Zacks: Analysts Anticipate Washington Federal Inc. (WAFD) Will Post Quarterly Sales of $131.70 Million

Wall Street brokerages expect Washington Federal Inc. (NASDAQ:WAFD) to announce sales of $131.70 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Washington Federal’s earnings, with the highest sales estimate coming in at $133.20 million and the lowest estimate coming in at $130.30 million. Washington Federal reported sales of $122.54 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The firm is expected to report its next earnings report on Tuesday, July 17th.

According to Zacks, analysts expect that Washington Federal will report full-year sales of $519.67 million for the current fiscal year, with estimates ranging from $517.70 million to $521.30 million. For the next fiscal year, analysts forecast that the firm will report sales of $548.00 million per share, with estimates ranging from $534.80 million to $555.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Washington Federal.

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Washington Federal (NASDAQ:WAFD) last posted its quarterly earnings data on Wednesday, April 11th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The firm had revenue of $129.89 million for the quarter, compared to analysts’ expectations of $131.87 million. Washington Federal had a net margin of 30.61% and a return on equity of 9.53%. During the same quarter last year, the company posted $0.47 EPS.

A number of research firms recently commented on WAFD. Zacks Investment Research cut Washington Federal from a “hold” rating to a “sell” rating in a research report on Monday, April 16th. DA Davidson reduced their price objective on Washington Federal from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, April 12th. Piper Jaffray reiterated a “hold” rating and set a $35.00 price objective on shares of Washington Federal in a research report on Thursday, April 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $38.00 price objective on shares of Washington Federal in a research report on Thursday, January 18th. Finally, BidaskClub upgraded Washington Federal from a “sell” rating to a “hold” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $37.00.

Washington Federal stock traded up $0.40 during mid-day trading on Wednesday, reaching $32.55. 622,407 shares of the stock traded hands, compared to its average volume of 511,562. The stock has a market cap of $2,724.69, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.03 and a current ratio of 1.02. Washington Federal has a 12-month low of $29.80 and a 12-month high of $37.70.

Washington Federal announced that its Board of Directors has approved a share repurchase program on Wednesday, January 24th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

A number of institutional investors and hedge funds have recently modified their holdings of WAFD. Deutsche Bank AG increased its position in Washington Federal by 387.0% in the fourth quarter. Deutsche Bank AG now owns 672,609 shares of the bank’s stock worth $23,034,000 after buying an additional 534,504 shares in the last quarter. Millennium Management LLC increased its position in Washington Federal by 576.0% in the fourth quarter. Millennium Management LLC now owns 386,926 shares of the bank’s stock worth $13,252,000 after buying an additional 329,688 shares in the last quarter. JPMorgan Chase & Co. increased its position in Washington Federal by 487.1% in the third quarter. JPMorgan Chase & Co. now owns 311,752 shares of the bank’s stock worth $10,584,000 after buying an additional 258,654 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Washington Federal by 217.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 328,466 shares of the bank’s stock worth $11,250,000 after buying an additional 225,038 shares in the last quarter. Finally, BlackRock Inc. increased its position in Washington Federal by 1.9% in the fourth quarter. BlackRock Inc. now owns 9,869,149 shares of the bank’s stock worth $338,017,000 after buying an additional 186,518 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

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Washington Federal Company Profile

Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services to consumers, mid-sized and large businesses, and owners and developers of commercial real estate in the United States. The company accepts deposit products, such as business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.

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Earnings History and Estimates for Washington Federal (NASDAQ:WAFD)

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