Werner Enterprises (NASDAQ:WERN) Shares Gap Down on Disappointing Earnings

Werner Enterprises, Inc. (NASDAQ:WERN - Get Free Report) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $27.66, but opened at $24.63. Werner Enterprises shares last traded at $23.67, with a volume of 263,831 shares changing hands.

The transportation company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.24). Werner Enterprises had a return on equity of 2.27% and a net margin of 1.13%. The business had revenue of $712.11 million for the quarter, compared to analyst estimates of $738.41 million. During the same period in the previous year, the business posted $0.14 EPS. The business's quarterly revenue was down 7.4% compared to the same quarter last year.

Werner Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.15%. Werner Enterprises's dividend payout ratio is presently 193.10%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Werner Enterprises from $28.00 to $25.00 and set a "sell" rating on the stock in a research note on Wednesday. Stifel Nicolaus cut their price objective on shares of Werner Enterprises from $29.00 to $24.00 and set a "hold" rating on the stock in a research report on Thursday. Barclays lowered their target price on Werner Enterprises from $32.00 to $28.00 and set an "equal weight" rating for the company in a report on Wednesday. Wells Fargo & Company cut their price target on Werner Enterprises from $27.00 to $24.00 and set an "underweight" rating on the stock in a report on Wednesday. Finally, StockNews.com upgraded Werner Enterprises from a "sell" rating to a "hold" rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Werner Enterprises currently has an average rating of "Hold" and a consensus price target of $29.92.

Hedge Funds Weigh In On Werner Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in WERN. CIBC Asset Management Inc grew its position in shares of Werner Enterprises by 4.6% in the 4th quarter. CIBC Asset Management Inc now owns 6,168 shares of the transportation company's stock valued at $222,000 after acquiring an additional 274 shares during the period. Keybank National Association OH lifted its stake in Werner Enterprises by 1.5% in the 4th quarter. Keybank National Association OH now owns 20,216 shares of the transportation company's stock valued at $726,000 after purchasing an additional 305 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Werner Enterprises by 0.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 53,495 shares of the transportation company's stock worth $1,922,000 after purchasing an additional 359 shares during the period. SummerHaven Investment Management LLC increased its position in Werner Enterprises by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 22,516 shares of the transportation company's stock worth $660,000 after buying an additional 398 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Werner Enterprises by 69.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,176 shares of the transportation company's stock valued at $34,000 after buying an additional 483 shares during the period. 89.32% of the stock is owned by institutional investors.

Werner Enterprises Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.52 and a quick ratio of 1.48. The stock has a 50-day moving average price of $29.18 and a 200-day moving average price of $34.51. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 47.38 and a beta of 1.06.

About Werner Enterprises

Werner Enterprises, Inc, together with its subsidiaries, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce in the United States, Mexico, and internationally. The company operates through two segments, Truckload Transportation Services and Werner Logistics.