Brokers Offer Predictions for Wabash National Co.’s FY2024 Earnings (NYSE:WNC)

Wabash National Co. (NYSE:WNCFree Report) – Equities research analysts at DA Davidson lowered their FY2024 earnings estimates for shares of Wabash National in a report issued on Thursday, February 8th. DA Davidson analyst M. Shlisky now anticipates that the company will earn $2.08 per share for the year, down from their previous estimate of $2.74. The consensus estimate for Wabash National’s current full-year earnings is $2.39 per share.

Other research analysts also recently issued research reports about the stock. Stephens dropped their price objective on shares of Wabash National from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. StockNews.com downgraded shares of Wabash National from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.

Read Our Latest Stock Analysis on WNC

Wabash National Stock Up 4.2 %

WNC opened at $26.39 on Monday. The firm has a 50-day simple moving average of $25.26 and a two-hundred day simple moving average of $23.11. Wabash National has a 52 week low of $20.09 and a 52 week high of $28.94. The company has a market capitalization of $1.22 billion, a PE ratio of 5.34 and a beta of 1.58. The company has a quick ratio of 1.17, a current ratio of 1.93 and a debt-to-equity ratio of 0.72.

Wabash National (NYSE:WNCGet Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.18. The company had revenue of $596.10 million during the quarter, compared to the consensus estimate of $633.68 million. Wabash National had a net margin of 9.12% and a return on equity of 46.87%. Wabash National’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Thursday, January 4th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Wednesday, January 3rd. Wabash National’s dividend payout ratio is 6.65%.

Insider Buying and Selling

In related news, Director Larry J. Magee sold 3,086 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total value of $81,779.00. Following the sale, the director now directly owns 114,146 shares of the company’s stock, valued at approximately $3,024,869. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wabash National

A number of institutional investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC lifted its position in 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 purchasing an additional 404 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Wabash National by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 31,423 shares of the company’s stock worth $805,000 after acquiring an additional 447 shares during the period. Franklin Resources Inc. raised its position in shares of Wabash National by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 34,277 shares of the company’s stock worth $878,000 after acquiring an additional 510 shares during the period. Metropolitan Life Insurance Co NY raised its position in shares of Wabash National by 21.7% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,998 shares of the company’s stock worth $68,000 after purchasing an additional 535 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Wabash National by 61.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $38,000 after purchasing an additional 565 shares during the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

About Wabash National

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Wabash National Corporation designs, manufactures, and distributes 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 provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; insulated van bodies; stake bodies; platform truck bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products.

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