Wabash National (NYSE:WNC) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Wabash National (NYSE:WNC) announced its quarterly earnings results on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06), reports. The firm had revenue of $515.28 million during the quarter. Wabash National had a return on equity of 37.84% and a net margin of 8.15%. Wabash National updated its FY24 guidance to $2.00-$2.50 EPS and its FY 2024 guidance to 2.000-2.500 EPS.

Wabash National Stock Up 0.7 %

Shares of NYSE:WNC opened at $24.16 on Friday. Wabash National has a 52-week low of $20.09 and a 52-week high of $30.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.17 and a current ratio of 1.87. The business’s 50 day simple moving average is $27.29 and its two-hundred day simple moving average is $24.91. The firm has a market cap of $1.09 billion, a P/E ratio of 5.77 and a beta of 1.58.

Wabash National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Thursday, April 4th were issued a $0.08 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $0.32 annualized dividend and a yield of 1.32%. Wabash National’s payout ratio is currently 7.69%.

Insider Activity

In other news, Director Priyadarshi Sudhanshu sold 1,010 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total value of $27,330.60. Following the transaction, the director now owns 6,386 shares in the company, valued at $172,805.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Priyadarshi Sudhanshu sold 1,010 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total value of $27,330.60. Following the transaction, the director now owns 6,386 shares in the company, valued at $172,805.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry J. Magee sold 3,086 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total value of $81,779.00. Following the completion of the transaction, the director now owns 114,146 shares in the company, valued at approximately $3,024,869. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company’s stock.

Institutional Trading of Wabash National

A number of institutional investors and hedge funds have recently modified their holdings of the business. SummerHaven Investment Management LLC increased its position in shares of Wabash National by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 30,225 shares of the company’s stock valued at $774,000 after acquiring an additional 404 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Wabash National by 1.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 31,423 shares of the company’s stock valued at $805,000 after acquiring an additional 447 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Wabash National by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 34,277 shares of the company’s stock valued at $878,000 after acquiring an additional 510 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Wabash National by 61.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $38,000 after acquiring an additional 565 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Wabash National by 0.8% during the third quarter. Swiss National Bank now owns 104,300 shares of the company’s stock valued at $2,203,000 after acquiring an additional 800 shares during the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Wabash National from a “hold” rating to a “buy” rating in a report on Thursday, April 18th.

About Wabash National

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.