Werner Enterprises (NASDAQ:WERN) Issues Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Werner Enterprises missed quarterly earnings expectations: The transportation company reported EPS of $0.22 versus the $0.24 consensus estimate, while revenue of $813.36 million fell well short of the $931.12 million forecast.
• Shares declined after the results, trading around $38.31, while the company maintained a quarterly dividend of $0.14 per share, equivalent to a 1.5% annualized yield.
• Analysts have a consensus “Hold” rating on WERN with an average price target of $41.62; institutional investors own approximately 89.32% of the stock.

Werner Enterprises (NASDAQ:WERN - Get Free Report) announced its quarterly earnings results on Tuesday. The transportation company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.02), FiscalAI reports. Werner Enterprises had a negative net margin of 0.28% and a positive return on equity of 0.66%. The business had revenue of $813.36 million for the quarter, compared to the consensus estimate of $931.12 million.

Werner Enterprises Stock Performance

WERN traded down $2.12 during midday trading on Tuesday, reaching $38.31. The company had a trading volume of 2,816,716 shares, compared to its average volume of 1,153,417. The business has a 50-day moving average of $42.73 and a two-hundred day moving average of $36.36. The company has a quick ratio of 1.43, a current ratio of 1.46 and a debt-to-equity ratio of 0.66. Werner Enterprises has a 1 year low of $23.06 and a 1 year high of $47.49. The company has a market cap of $2.30 billion, a P/E ratio of -255.40, a P/E/G ratio of 0.83 and a beta of 1.26.

Werner Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th were given a $0.14 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. Werner Enterprises's dividend payout ratio is presently -373.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Werner Enterprises by 41.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,324 shares of the transportation company's stock worth $70,000 after acquiring an additional 679 shares during the period. Mangrove Partners IM LLC bought a new position in shares of Werner Enterprises in the fourth quarter worth approximately $224,000. Tower Research Capital LLC TRC boosted its position in shares of Werner Enterprises by 1,147.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,020 shares of the transportation company's stock worth $219,000 after purchasing an additional 7,377 shares during the period. FORA Capital LLC purchased a new stake in shares of Werner Enterprises in the second quarter worth $240,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Werner Enterprises in the fourth quarter worth $281,000. 89.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WERN has been the subject of a number of recent analyst reports. Robert W. Baird boosted their target price on Werner Enterprises from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 17th. TD Cowen raised their price target on shares of Werner Enterprises from $36.00 to $43.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. Bank of America lifted their price target on shares of Werner Enterprises from $31.00 to $36.00 and gave the stock an "underperform" rating in a research note on Thursday, July 23rd. Wall Street Zen raised shares of Werner Enterprises from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Werner Enterprises from $30.00 to $34.00 and gave the company an "underweight" rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $41.62.

About Werner Enterprises

Werner Enterprises, Inc, founded in 1956 by Clarence L. “Chris” Werner, is a leading transportation and logistics provider based in Omaha, Nebraska. The company began as a one‐truck operation and has since grown into one of North America's largest carriers, offering an array of services to support diverse supply chains.

Werner's core business activities include full truckload dry van services, dedicated contract carriage, intermodal transport and brokerage solutions. The company also provides value-added services such as warehousing, freight management and fleet maintenance through its network of terminals and service centers.

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