Werner Enterprises Inc. (NASDAQ:WERN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “Werner Enterprises, Inc. is a transportation company primarily engaged in hauling truckload shipments of general commodities in both interstate and intrastate commerce. The Company operates throughout the 48 contiguous states pursuant to operating authority, both common and contract, granted by the Department of Transportation and pursuant to intrastate authority granted by various states. They also have authority to operate in the ten provinces of Canada and have through trailer service in and out of Mexico. “
A number of other research firms also recently commented on WERN. Deutsche Bank AG set a $23.00 price objective on Werner Enterprises and gave the company a “hold” rating in a report on Monday, July 25th. Cowen and Company lowered their price target on Werner Enterprises from $28.00 to $23.00 and set a “market perform” rating for the company in a report on Tuesday, June 21st. Citigroup Inc. lowered their price target on Werner Enterprises from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, July 11th. Barclays PLC restated a “hold” rating and issued a $23.00 price target (down from $28.00) on shares of Werner Enterprises in a report on Tuesday, June 21st. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $21.00 price target on shares of Werner Enterprises in a report on Tuesday, June 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.06.
Shares of Werner Enterprises (NASDAQ:WERN) remained flat at $23.76 on Thursday. 131,207 shares of the company traded hands. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 16.04 and a beta of 0.81. Werner Enterprises has a 1-year low of $20.91 and a 1-year high of $28.80. The company’s 50-day moving average price is $23.41 and its 200 day moving average price is $24.50.
Werner Enterprises (NASDAQ:WERN) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business earned $498.68 million during the quarter, compared to the consensus estimate of $499.50 million. Werner Enterprises had a return on equity of 11.42% and a net margin of 5.24%. During the same quarter in the prior year, the company posted $0.44 earnings per share. Equities analysts forecast that Werner Enterprises will post $1.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Thursday, September 29th. Werner Enterprises’s dividend payout ratio (DPR) is 16.22%.
Several large investors have recently added to or reduced their stakes in WERN. State Street Corp increased its stake in Werner Enterprises by 1.8% in the first quarter. State Street Corp now owns 1,627,683 shares of the company’s stock valued at $44,204,000 after buying an additional 29,248 shares during the period. BlackRock Inc. increased its stake in Werner Enterprises by 10.4% in the first quarter. BlackRock Inc. now owns 17,520 shares of the company’s stock valued at $476,000 after buying an additional 1,652 shares during the period. M&T Bank Corp purchased a new stake in Werner Enterprises during the first quarter valued at $200,000. AXA increased its stake in Werner Enterprises by 222.9% in the first quarter. AXA now owns 61,030 shares of the company’s stock valued at $1,658,000 after buying an additional 42,130 shares during the period. Finally, Nationwide Fund Advisors increased its stake in Werner Enterprises by 20.5% in the second quarter. Nationwide Fund Advisors now owns 523,823 shares of the company’s stock valued at $12,032,000 after buying an additional 88,981 shares during the period. 64.80% of the stock is currently owned by institutional investors.
About Werner Enterprises
Werner Enterprises, Inc is a transportation and logistics company. The Company is engaged in transporting truckload shipments of general commodities in both interstate and intrastate commerce. The Company operates through two segments: Truckload Transportation Services (Truckload) and Value Added Services (VAS).
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