Werner Enterprises (NASDAQ:WERN) Stock Price Target Lowered at Wells Fargo & Company

Werner Enterprises (NASDAQ:WERN) had its target price trimmed by Wells Fargo & Company from $46.00 to $37.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the transportation company’s stock.

Several other analysts have also weighed in on WERN. Citigroup boosted their price objective on Werner Enterprises from $37.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. The Goldman Sachs Group increased their target price on Werner Enterprises from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Werner Enterprises in a research report on Friday, July 24th. Evercore upgraded Werner Enterprises from an “underperform” rating to an “in-line” rating in a report on Wednesday, July 1st. Finally, Susquehanna raised Werner Enterprises from a “neutral” rating to a “positive” rating and dropped their price target for the company from $48.00 to $44.00 in a research report on Thursday, July 30th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.38.

Werner Enterprises Price Performance

Shares of WERN stock opened at $32.81 on Tuesday. The firm has a market cap of $1.97 billion, a P/E ratio of -43.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.45 and a quick ratio of 1.42. Werner Enterprises has a 1-year low of $23.06 and a 1-year high of $47.49. The firm has a fifty day moving average of $37.00 and a two-hundred day moving average of $37.73.

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

Werner Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Monday, October 5th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.7%. Werner Enterprises’s dividend payout ratio (DPR) is currently -73.68%.

Hedge Funds Weigh In On Werner Enterprises

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Werner Enterprises by 17.7% during the 2nd quarter. BlackRock Inc. now owns 10,405,606 shares of the transportation company’s stock worth $453,788,000 after purchasing an additional 1,563,170 shares during the period. Dimensional Fund Advisors LP boosted its position in Werner Enterprises by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,794,752 shares of the transportation company’s stock valued at $111,601,000 after purchasing an additional 148,826 shares during the period. Deprince Race & Zollo Inc. grew its stake in Werner Enterprises by 11.1% during the 1st quarter. Deprince Race & Zollo Inc. now owns 3,055,017 shares of the transportation company’s stock worth $89,848,000 after buying an additional 304,983 shares during the last quarter. State Street Corp grew its stake in Werner Enterprises by 3.1% during the 2nd quarter. State Street Corp now owns 2,637,086 shares of the transportation company’s stock worth $115,003,000 after buying an additional 79,075 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Werner Enterprises by 1,361.0% in the first quarter. First Trust Advisors LP now owns 1,921,152 shares of the transportation company’s stock worth $56,501,000 after buying an additional 1,789,653 shares during the period. 89.32% of the stock is owned by institutional investors.

About Werner Enterprises

Werner Enterprises, Inc is a transportation and logistics company headquartered in Omaha, Nebraska. Founded in 1956 by C.L. Werner, the company provides freight transportation and supply chain services to customers across North America.

The company’s operations include truckload transportation, dedicated transportation, and logistics services. Its truckload business transports general commodities through one-way and dedicated fleets, while its logistics operations arrange transportation using a network of carriers and other service providers.