Wabash National (NYSE:WNC) Stock Price Down 8.4% on Disappointing Earnings

Key Points

• Wabash National shares fell 8.4% after the company reported quarterly EPS of negative $0.63, missing the $0.46 loss analysts expected. Revenue rose 24.8% year over year to $476.41 million, exceeding estimates of $453.74 million.
• The company declared a quarterly dividend of $0.08 per share, equivalent to $0.32 annually and a 2.7% yield, despite its negative earnings and payout ratio.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $23.33 target price; institutional investors own approximately 97.05% of the company.

Wabash National Corporation (NYSE:WNC - Get Free Report)'s share price was down 8.4% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $11.94 and last traded at $12.6640. Approximately 212,804 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 825,770 shares. The stock had previously closed at $13.82.

The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.17). The firm had revenue of $476.41 million during the quarter, compared to the consensus estimate of $453.74 million. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.51) earnings per share.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.7%. Wabash National's payout ratio is currently -16.58%.

Analyst Ratings Changes

WNC has been the subject of several analyst reports. Wall Street Zen raised Wabash National from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Citigroup reaffirmed a "market outperform" rating on shares of Wabash National in a research report on Tuesday, October 20th. DA Davidson reiterated a "buy" rating and set a $20.00 target price on shares of Wabash National in a research note on Tuesday, September 22nd. National Bank Financial set a $25.00 price objective on Wabash National in a research note on Tuesday, October 20th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Wabash National in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Wabash National presently has a consensus rating of "Hold" and a consensus target price of $23.33.

Hedge Funds Weigh In On Wabash National

Institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Wabash National during the second quarter worth $47,125,000. Dimensional Fund Advisors LP raised its holdings in shares of Wabash National by 17.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company's stock valued at $14,291,000 after buying an additional 247,345 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Wabash National in the second quarter valued at about $9,812,434. Bank of New York Mellon Corp acquired a new position in Wabash National during the 2nd quarter worth about $6,151,000. Finally, Empowered Funds LLC lifted its position in Wabash National by 40.1% during the 1st quarter. Empowered Funds LLC now owns 589,884 shares of the company's stock worth $5,085,000 after buying an additional 168,929 shares in the last quarter. Institutional investors own 97.05% of the company's stock.

Wabash National Trading Down 13.0%

The company's 50-day moving average is $12.87 and its 200-day moving average is $10.87. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a market cap of $489.98 million, a price-to-earnings ratio of -6.30 and a beta of 1.48.

Wabash National Company Profile

Wabash National Corporation is a transportation equipment and logistics solutions manufacturer headquartered in Lafayette, Indiana. The company designs and produces equipment used to move freight across North America, serving trucking, transportation, distribution, and logistics customers.

Its product portfolio includes dry and refrigerated van trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also provides related parts, services, and technologies intended to support trailer maintenance, fleet operations, and supply-chain efficiency.

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