Werner Enterprises (NASDAQ:WERN) Shares Gap Down After Earnings Miss

Shares of Werner Enterprises, Inc. (NASDAQ:WERN - Get Free Report) gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $38.31, but opened at $36.34. Werner Enterprises shares last traded at $37.97, with a volume of 173,860 shares changing hands.

The transportation company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.07). The company had revenue of $745.70 million during the quarter, compared to analyst estimates of $765.24 million. Werner Enterprises had a return on equity of 4.70% and a net margin of 1.99%. The company's quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share.

Werner Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, October 7th. Werner Enterprises's payout ratio is 56.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WERN shares. Stifel Nicolaus decreased their price target on Werner Enterprises from $39.00 to $33.00 and set a "hold" rating on the stock in a research report on Thursday, August 1st. Citigroup began coverage on shares of Werner Enterprises in a report on Wednesday, October 9th. They set a "sell" rating and a $34.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Werner Enterprises from $55.00 to $52.00 and set an "overweight" rating for the company in a research note on Wednesday. Evercore ISI dropped their price objective on shares of Werner Enterprises from $35.00 to $32.00 and set an "in-line" rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company cut their price target on Werner Enterprises from $38.00 to $35.00 and set an "underweight" rating on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Werner Enterprises currently has an average rating of "Hold" and a consensus price target of $36.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its position in Werner Enterprises by 390.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 740 shares of the transportation company's stock worth $27,000 after buying an additional 589 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Werner Enterprises during the second quarter worth approximately $29,000. Canada Pension Plan Investment Board acquired a new position in shares of Werner Enterprises in the second quarter valued at approximately $29,000. Quest Partners LLC acquired a new position in Werner Enterprises in the 2nd quarter valued at $30,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Werner Enterprises by 145.7% during the third quarter. GAMMA Investing LLC now owns 801 shares of the transportation company's stock worth $31,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 89.32% of the company's stock.

Werner Enterprises Price Performance

The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The company's 50 day moving average is $37.11 and its 200 day moving average is $36.74. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 37.88, a P/E/G ratio of 11.70 and a beta of 0.79.

Werner Enterprises Company Profile

Werner Enterprises, Inc, together with its subsidiaries, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce in the United States, Mexico, and internationally. The company operates through two segments, Truckload Transportation Services and Werner Logistics.