Wabash National (NYSE:WNC) Posts Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Wabash National reported quarterly EPS of $(0.53), beating analyst expectations by $0.03, while revenue fell 9.1% year over year and the company posted negative margins and return on equity.
• The stock dropped 9.5% to $12.04 following the results. Despite the decline, Wabash maintains a quarterly dividend of $0.08, representing a 2.7% yield.
• Analyst opinions remain mixed, with ratings ranging from “strong sell” to “outperform”; the consensus rating is Hold with an $18 price target, while institutional investors own 97.05% of the shares.

Wabash National (NYSE:WNC - Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.03, Zacks reports. Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. The firm's revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.15) EPS.

Wabash National Stock Down 9.5%

Wabash National stock traded down $1.27 during midday trading on Wednesday, reaching $12.04. The company's stock had a trading volume of 478,277 shares, compared to its average volume of 823,867. The company has a market cap of $489.67 million, a P/E ratio of -7.56 and a beta of 1.43. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 1.55. The business has a 50-day simple moving average of $11.00 and a 200-day simple moving average of $9.97. Wabash National has a fifty-two week low of $6.63 and a fifty-two week high of $14.32.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 2nd. Wabash National's dividend payout ratio is -20.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on WNC. Weiss Ratings cut Wabash National from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Friday, May 15th. Wall Street Zen downgraded Wabash National from a "sell" rating to a "strong sell" rating in a report on Sunday, July 12th. DA Davidson reaffirmed a "buy" rating and issued a $20.00 target price on shares of Wabash National in a research report on Wednesday, July 22nd. Finally, Citizens Jmp started coverage on shares of Wabash National in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Wabash National currently has a consensus rating of "Hold" and a consensus price target of $18.00.

Hedge Funds Weigh In On Wabash National

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new position in shares of Wabash National in the 4th quarter valued at $184,000. Schonfeld Strategic Advisors LLC purchased a new position in Wabash National during the 3rd quarter worth $172,000. Caxton Associates LLP purchased a new position in Wabash National during the 1st quarter worth $166,000. Meeder Asset Management Inc. acquired a new position in Wabash National in the fourth quarter valued at $156,000. Finally, Walleye Capital LLC purchased a new stake in shares of Wabash National in the second quarter valued at about $156,000. 97.05% of the stock is owned by institutional investors and hedge funds.

About Wabash National

Wabash National Corporation NYSE: WNC is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company's product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.

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