Werner Enterprises, Inc. (NASDAQ:WERN) Sees Large Volume Increase on Better-Than-Expected Earnings
Werner Enterprises, Inc. (NASDAQ:WERN) saw strong trading volume on Tuesday following a stronger than expected earnings report. 3,301,224 shares traded hands during mid-day trading, an increase of 384% from the previous session’s volume of 681,633 shares.The stock last traded at $31.15 and had previously closed at $29.20.
The transportation company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.05. The firm had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $521.63 million. Werner Enterprises had a return on equity of 7.61% and a net margin of 3.70%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Wednesday, July 5th were given a $0.07 dividend. This is a boost from Werner Enterprises’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.90%. Werner Enterprises’s dividend payout ratio (DPR) is presently 27.18%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Werner Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Vertical Research assumed coverage on Werner Enterprises in a research note on Thursday, April 13th. They issued a “sell” rating and a $24.00 target price for the company. Stifel Nicolaus restated a “hold” rating and issued a $29.00 target price (up previously from $26.00) on shares of Werner Enterprises in a research note on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $32.00 target price (up previously from $30.00) on shares of Werner Enterprises in a research note on Tuesday. Finally, Cowen and Company raised their target price on Werner Enterprises from $27.00 to $31.00 and gave the stock a “market perform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Werner Enterprises currently has an average rating of “Hold” and an average price target of $28.44.
In other Werner Enterprises news, VP Jim S. Schelble sold 7,494 shares of Werner Enterprises stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $29.50, for a total transaction of $221,073.00. Following the completion of the transaction, the vice president now owns 55,300 shares in the company, valued at approximately $1,631,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 34.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC raised its position in Werner Enterprises by 17.2% in the second quarter. LS Investment Advisors LLC now owns 3,636 shares of the transportation company’s stock worth $107,000 after buying an additional 533 shares during the last quarter. Advantus Capital Management Inc raised its position in Werner Enterprises by 3.2% in the first quarter. Advantus Capital Management Inc now owns 5,730 shares of the transportation company’s stock worth $150,000 after buying an additional 178 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Werner Enterprises by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 6,257 shares of the transportation company’s stock worth $164,000 after buying an additional 163 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Werner Enterprises during the fourth quarter worth $206,000. Finally, Thrivent Financial For Lutherans raised its position in Werner Enterprises by 11.5% in the first quarter. Thrivent Financial For Lutherans now owns 8,530 shares of the transportation company’s stock worth $223,000 after buying an additional 880 shares during the last quarter. Institutional investors and hedge funds own 66.38% of the company’s stock.
The firm’s 50-day moving average price is $29.18 and its 200-day moving average price is $27.48. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 30.24 and a beta of 0.87.
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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. It operates through two segments: Truckload and Werner Logistics. It provides logistics services through its Werner Logistics division.
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