Werner Enterprises (NASDAQ:WERN) Shares Gap Down – Here’s What Happened

Werner Enterprises, Inc. (NASDAQ:WERN)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $37.56, but opened at $36.04. Werner Enterprises shares last traded at $36.0960, with a volume of 97,655 shares.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on Werner Enterprises from $37.00 to $39.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 29th. Zacks Research downgraded Werner Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Morgan Stanley increased their target price on shares of Werner Enterprises from $47.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Stifel Nicolaus raised their target price on shares of Werner Enterprises from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, July 13th. Finally, Bank of America lifted their price target on shares of Werner Enterprises from $31.00 to $36.00 and gave the company an “underperform” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.54.

Werner Enterprises Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.42 and a current ratio of 1.45. The firm has a fifty day simple moving average of $39.57 and a two-hundred day simple moving average of $37.40. The firm has a market cap of $2.15 billion, a PE ratio of -47.25 and a beta of 1.27.

Werner Enterprises (NASDAQ:WERN) last announced its earnings results on Tuesday, July 28th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). Werner Enterprises had a negative net margin of 1.42% and a positive return on equity of 1.18%. The business had revenue of $813.36 million for the quarter, compared to analysts’ expectations of $931.12 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. Equities analysts predict that Werner Enterprises, Inc. will post 1.11 EPS for the current fiscal year.

Werner Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Monday, October 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, October 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.6%. Werner Enterprises’s dividend payout ratio (DPR) is presently -73.68%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WERN. The Manufacturers Life Insurance Company raised its stake in Werner Enterprises by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 29,726 shares of the transportation company’s stock worth $1,296,000 after buying an additional 3,032 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Werner Enterprises during the 2nd quarter valued at $65,000. Allworth Financial LP increased its holdings in shares of Werner Enterprises by 56.4% in the 2nd quarter. Allworth Financial LP now owns 860 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 310 shares during the period. Corient Private Wealth LP raised its position in shares of Werner Enterprises by 79.7% in the 2nd quarter. Corient Private Wealth LP now owns 72,091 shares of the transportation company’s stock worth $3,144,000 after acquiring an additional 31,964 shares in the last quarter. Finally, Amundi raised its position in shares of Werner Enterprises by 44.7% in the 2nd quarter. Amundi now owns 16,720 shares of the transportation company’s stock worth $729,000 after acquiring an additional 5,168 shares in the last quarter. Institutional investors own 89.32% of the company’s stock.

Werner Enterprises Company Profile

Werner Enterprises, Inc is a transportation and logistics company headquartered in Omaha, Nebraska. Founded in 1956 by Clarence L. Werner, the company provides freight transportation and supply chain services to customers across the United States, as well as in Mexico and Canada.

The company’s operations include truckload transportation, dedicated transportation, and logistics services. Its truckload business transports consumer and industrial goods using a network of company trucks and independent carriers, while its dedicated operations provide customized fleets and drivers for customers with recurring freight needs.