Werner Enterprises Inc. (WERN) Downgraded to “Sell” at Zacks Investment Research
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 stock a hold rating in a report on Monday, July 25th. Cowen and Company cut their price objective on Werner Enterprises from $28.00 to $23.00 and set a market perform rating on the stock in a report on Tuesday, June 21st. Citigroup Inc. cut their price objective on Werner Enterprises from $25.00 to $24.00 and set a neutral rating on the stock in a report on Monday, July 11th. Barclays PLC restated a hold rating and issued a $23.00 price objective (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 objective on shares of Werner Enterprises in a report on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $27.06.
Werner Enterprises (NASDAQ:WERN) opened at 23.88 on Thursday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 16.12 and a beta of 0.81. The company has a 50 day moving average of $23.44 and a 200 day moving average of $24.40. Werner Enterprises has a 12 month low of $20.91 and a 12 month high of $28.80.
Werner Enterprises (NASDAQ:WERN) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $498.68 million for 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 period last year, the business posted $0.44 EPS. On average, equities analysts predict that Werner Enterprises will post $1.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 3rd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.24 dividend on an annualized basis and a yield of 1.01%. Werner Enterprises’s dividend payout ratio is currently 16.22%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its position in Werner Enterprises by 1,883.6% in the second quarter. Alliancebernstein L.P. now owns 1,627,408 shares of the company’s stock worth $37,382,000 after buying an additional 1,545,366 shares in the last quarter. Bank of New York Mellon Corp raised its position in Werner Enterprises by 102.1% in the second quarter. Bank of New York Mellon Corp now owns 2,165,829 shares of the company’s stock worth $49,749,000 after buying an additional 1,094,336 shares in the last quarter. American Century Companies Inc. bought a new position in Werner Enterprises during the second quarter worth about $20,376,000. Dimensional Fund Advisors LP raised its position in Werner Enterprises by 15.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,786,079 shares of the company’s stock worth $109,935,000 after buying an additional 647,890 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Werner Enterprises during the second quarter worth about $14,620,000. Institutional investors and hedge funds own 64.80% of the company’s stock.
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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