Werner Enterprises, Inc. (WERN) Expected to Post Quarterly Sales of $532.47 Million
Analysts forecast that Werner Enterprises, Inc. (NASDAQ:WERN) will announce $532.47 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Werner Enterprises’ earnings, with estimates ranging from $525.80 million to $540.00 million. Werner Enterprises posted sales of $508.68 million in the same quarter last year, which suggests a positive year over year growth rate of 4.7%. The business is expected to announce its next earnings report on Thursday, October 19th.
On average, analysts expect that Werner Enterprises will report full year sales of $532.47 million for the current financial year, with estimates ranging from $2.08 billion to $2.12 billion. For the next year, analysts forecast that the firm will report sales of $2.21 billion per share, with estimates ranging from $2.15 billion to $2.28 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover Werner Enterprises.
Werner Enterprises (NASDAQ:WERN) last posted its quarterly earnings data on Monday, July 24th. The transportation company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company 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 7.97% and a net margin of 3.90%. Werner Enterprises’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share.
A number of brokerages have commented on WERN. Zacks Investment Research raised Werner Enterprises from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, August 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 price target (up previously from $30.00) on shares of Werner Enterprises in a research report on Tuesday, July 25th. BidaskClub raised Werner Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Buckingham Research began coverage on Werner Enterprises in a research report on Monday, August 21st. They set a “buy” rating and a $36.00 price target for the company. Finally, Stephens raised Werner Enterprises from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $36.00 in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Werner Enterprises presently has a consensus rating of “Hold” and an average target price of $30.83.
In related news, CEO Derek J. Leathers sold 12,244 shares of Werner Enterprises stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $30.02, for a total value of $367,564.88. Following the completion of the transaction, the chief executive officer now owns 228,780 shares in the company, valued at approximately $6,867,975.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jim S. Schelble sold 7,500 shares of Werner Enterprises stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $30.17, for a total value of $226,275.00. Following the completion of the transaction, the vice president now owns 55,306 shares of the company’s stock, valued at approximately $1,668,582.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,000 shares of company stock valued at $1,593,570. 34.70% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Virginia Retirement Systems ET AL increased its stake in shares of Werner Enterprises by 0.5% in the 1st quarter. Virginia Retirement Systems ET AL now owns 21,100 shares of the transportation company’s stock valued at $553,000 after purchasing an additional 100 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Werner Enterprises by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 28,559 shares of the transportation company’s stock valued at $838,000 after purchasing an additional 160 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Werner Enterprises by 2.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 6,257 shares of the transportation company’s stock valued at $164,000 after purchasing an additional 163 shares in the last quarter. Advantus Capital Management Inc increased its stake in shares of Werner Enterprises by 3.2% in the 1st quarter. Advantus Capital Management Inc now owns 5,730 shares of the transportation company’s stock valued at $150,000 after purchasing an additional 178 shares in the last quarter. Finally, State Treasurer State of Michigan increased its stake in shares of Werner Enterprises by 1.1% in the 1st quarter. State Treasurer State of Michigan now owns 18,175 shares of the transportation company’s stock valued at $476,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Monday, October 2nd will be paid a $0.07 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.28 annualized dividend and a dividend yield of 0.79%. Werner Enterprises’s dividend payout ratio is presently 25.45%.
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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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