Werner Enterprises (NASDAQ:WERN) Shares Gap Down – What’s Next?

Werner Enterprises, Inc. (NASDAQ:WERN) shares gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WERN shares. The Goldman Sachs Group boosted their price target on Werner Enterprises from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. TD Cowen dropped their price target on Werner Enterprises from $43.00 to $41.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. Bank of America raised their target price 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. Susquehanna upgraded shares of Werner Enterprises from a “neutral” rating to a “positive” rating and reduced their price target for the stock from $48.00 to $44.00 in a research report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price objective on shares of Werner Enterprises from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.54.

Werner Enterprises Price Performance

The stock has a market cap of $2.15 billion, a P/E ratio of -47.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.45 and a quick ratio of 1.42. The business’s fifty day moving average price is $39.89 and its 200 day moving average price is $37.38.

Werner Enterprises (NASDAQ:WERN) last announced its quarterly 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). The company had revenue of $813.36 million for the quarter, compared to the consensus estimate of $931.12 million. Werner Enterprises had a negative net margin of 1.42% and a positive return on equity of 1.18%. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. Sell-side analysts forecast that Werner Enterprises, Inc. will post 1.14 EPS for the current fiscal year.

Werner Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Monday, October 5th will be given a $0.14 dividend. 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 currently -73.68%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WERN. Allworth Financial LP acquired a new position in shares of Werner Enterprises in the 2nd quarter worth approximately $38,000. Global Retirement Partners LLC acquired a new stake in shares of Werner Enterprises during the second quarter worth $45,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Werner Enterprises during the second quarter worth $65,000. Bayforest Capital Ltd bought a new position in Werner Enterprises during the second quarter worth $128,000. Finally, Covestor Ltd raised its stake in Werner Enterprises by 28.3% during the fourth quarter. Covestor Ltd now owns 3,261 shares of the transportation company’s stock worth $98,000 after buying an additional 719 shares during the last quarter. 89.32% of the stock is currently owned by institutional investors and hedge funds.

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.