Wells Fargo & Company Cuts Werner Enterprises (NASDAQ:WERN) Price Target to $35.00

Werner Enterprises (NASDAQ:WERN) had its price target cut by Wells Fargo & Company from $38.00 to $35.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an underweight rating on the transportation company’s stock.

Other analysts have also issued research reports about the company. Citigroup initiated coverage on Werner Enterprises in a report on Wednesday, October 9th. They issued a “sell” rating and a $34.00 target price on the stock. Stephens lowered their price objective on shares of Werner Enterprises from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Evercore ISI dropped their target price on shares of Werner Enterprises from $35.00 to $32.00 and set an “in-line” rating for the company in a report on Wednesday. Susquehanna upped their price target on shares of Werner Enterprises from $26.00 to $30.00 and gave the company a “negative” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group dropped their price objective on shares of Werner Enterprises from $37.00 to $33.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.36.

Werner Enterprises Stock Up 1.8 %

Shares of NASDAQ WERN opened at $37.54 on Wednesday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 51.42, a price-to-earnings-growth ratio of 12.04 and a beta of 0.79. Werner Enterprises has a 52 week low of $33.12 and a 52 week high of $43.26. The firm has a 50-day moving average price of $37.10 and a 200 day moving average price of $36.76. The company has a quick ratio of 1.64, a current ratio of 1.53 and a debt-to-equity ratio of 0.48.

Werner Enterprises (NASDAQ:WERN) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The company had revenue of $745.70 million for the quarter, compared to analyst estimates of $765.24 million. Werner Enterprises had a net margin of 1.48% and a return on equity of 3.58%. Werner Enterprises’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. Equities research analysts anticipate that Werner Enterprises will post 0.85 EPS for the current fiscal year.

Werner Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Monday, October 7th. Werner Enterprises’s dividend payout ratio (DPR) is 76.71%.

Institutional Trading of Werner Enterprises

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Werner Enterprises by 3.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,421,798 shares of the transportation company’s stock worth $55,621,000 after buying an additional 48,340 shares during the last quarter. Norden Group LLC raised its holdings in shares of Werner Enterprises by 1,048.4% in the 1st quarter. Norden Group LLC now owns 91,312 shares of the transportation company’s stock worth $3,572,000 after purchasing an additional 83,361 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Werner Enterprises in the 1st quarter valued at about $267,000. BNP Paribas Financial Markets grew its holdings in shares of Werner Enterprises by 59.3% during the 1st quarter. BNP Paribas Financial Markets now owns 33,188 shares of the transportation company’s stock worth $1,298,000 after purchasing an additional 12,355 shares during the period. Finally, FORA Capital LLC acquired a new stake in Werner Enterprises during the 1st quarter worth approximately $468,000. 89.32% of the stock is owned by institutional investors and hedge funds.

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.