Wabash National (NYSE:WNC) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Wabash National (NYSE:WNC) announced its quarterly earnings data on Wednesday. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.03, Zacks reports. Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. During the same period in the previous year, the company posted ($0.15) EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis.

Wabash National Price Performance

Wabash National stock traded down $1.27 during mid-day trading on Wednesday, reaching $12.04. The company had a trading volume of 478,277 shares, compared to its average volume of 823,867. The stock’s 50-day simple moving average is $11.00 and its 200-day simple moving average is $9.97. Wabash National has a 1 year low of $6.63 and a 1 year high of $14.32. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.77. The company has a market capitalization of $489.67 million, a P/E ratio of -7.56 and a beta of 1.43.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 2.7%. Wabash National’s dividend payout ratio (DPR) is -20.00%.

Institutional Investors Weigh In On Wabash National

A number of institutional investors and hedge funds have recently modified their holdings of WNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Wabash National by 2.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company’s stock valued at $17,975,000 after purchasing an additional 36,226 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Wabash National by 17.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company’s stock worth $13,394,000 after purchasing an additional 233,979 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Wabash National by 4.3% in the second quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock valued at $15,367,000 after purchasing an additional 59,054 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Wabash National by 161.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company’s stock valued at $9,585,000 after purchasing an additional 684,397 shares during the last quarter. Finally, Towle & Co. increased its position in shares of Wabash National by 23.4% in the fourth quarter. Towle & Co. now owns 978,330 shares of the company’s stock valued at $8,463,000 after buying an additional 185,517 shares in the last quarter. Institutional investors and hedge funds own 97.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WNC. Wall Street Zen lowered shares of Wabash National from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Citizens Jmp assumed coverage on Wabash National in a report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price objective on the stock. Weiss Ratings cut Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Finally, DA Davidson reissued a “buy” rating and issued a $20.00 price target on shares of Wabash National in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.00.

About Wabash National

Wabash National Corporation (NYSE: WNC) is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company’s product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.