Wabash National (NYSE:WNC) Trading Down 4.9% After Earnings Miss

Shares of Wabash National Co. (NYSE:WNC) dropped 4.9% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $15.94 and last traded at $16.22. Approximately 197,178 shares were traded during trading, a decline of 66% from the average daily volume of 587,477 shares. The stock had previously closed at $17.06.

The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). Wabash National had a net margin of 6.66% and a return on equity of 28.24%. The firm had revenue of $464.00 million during the quarter, compared to analyst estimates of $477.35 million. During the same period last year, the firm earned $1.16 EPS. Wabash National’s quarterly revenue was down 26.7% on a year-over-year basis.

Wabash National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.78%. Wabash National’s dividend payout ratio is presently 9.82%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reaffirmed a “neutral” rating and issued a $18.00 price target on shares of Wabash National in a research note on Monday, September 30th.

Institutional Trading of Wabash National

A number of institutional investors have recently modified their holdings of WNC. Allspring Global Investments Holdings LLC raised its position in Wabash National by 84.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 263,731 shares of the company’s stock valued at $7,896,000 after buying an additional 120,919 shares during the last quarter. Wasatch Advisors LP grew its position in Wabash National by 66.9% in the first quarter. Wasatch Advisors LP now owns 1,380,766 shares of the company’s stock valued at $41,340,000 after purchasing an additional 553,500 shares in the last quarter. Tradewinds Capital Management LLC acquired a new stake in Wabash National in the 1st quarter valued at $48,000. LSV Asset Management lifted its position in Wabash National by 8.8% during the 1st quarter. LSV Asset Management now owns 1,160,483 shares of the company’s stock worth $34,745,000 after buying an additional 93,444 shares in the last quarter. Finally, Sciencast Management LP bought a new position in shares of Wabash National in the 1st quarter valued at about $229,000. 97.05% of the stock is currently owned by institutional investors.

Wabash National Trading Up 6.3 %

The business has a 50-day moving average of $18.78 and a 200-day moving average of $21.03. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.15. The firm has a market cap of $790.68 million, a price-to-earnings ratio of 5.51 and a beta of 1.52.

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.