JPMorgan Chase & Co. Cuts Werner Enterprises (NASDAQ:WERN) Price Target to $33.00

Werner Enterprises (NASDAQ:WERN) had its target price decreased by JPMorgan Chase & Co. from $39.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the transportation company’s stock.

Several other equities research analysts have also recently commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Werner Enterprises in a report on Friday, July 24th. Zacks Research lowered Werner Enterprises from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Stephens upgraded shares of Werner Enterprises to a “strong-buy” rating in a research report on Wednesday, July 8th. Stifel Nicolaus raised their price objective on shares of Werner Enterprises from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, July 13th. Finally, Susquehanna upgraded shares of Werner Enterprises from a “neutral” rating to a “positive” rating and dropped their target price for the stock from $48.00 to $44.00 in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.62.

Werner Enterprises Trading Down 1.4%

NASDAQ:WERN opened at $32.34 on Monday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -42.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.42 and a current ratio of 1.45. Werner Enterprises has a 1 year low of $23.06 and a 1 year high of $47.49. The business has a fifty day moving average of $36.91 and a 200-day moving average of $37.77.

Werner Enterprises (NASDAQ:WERN) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). The company had revenue of $813.36 million during the quarter, compared to analyst estimates of $931.12 million. Werner Enterprises had a positive return on equity of 1.18% and a negative net margin of 1.42%.The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. Equities analysts predict that Werner Enterprises will post 1.1 earnings per share for the current year.

Werner Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Monday, October 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, October 5th. Werner Enterprises’s payout ratio is presently -73.68%.

Institutional Trading of Werner Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP grew its holdings in shares of Werner Enterprises by 56.4% during the 2nd quarter. Allworth Financial LP now owns 860 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 310 shares in the last quarter. GAMMA Investing LLC increased its position in Werner Enterprises by 21.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,812 shares of the transportation company’s stock worth $166,000 after purchasing an additional 675 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Werner Enterprises by 40.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,266 shares of the transportation company’s stock worth $96,000 after purchasing an additional 942 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Werner Enterprises in the 2nd quarter valued at approximately $45,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Werner Enterprises in the second quarter worth approximately $65,000. Institutional investors and hedge funds own 89.32% of the company’s stock.

About Werner Enterprises

Werner Enterprises, Inc is a transportation and logistics company headquartered in Omaha, Nebraska. Founded in 1956 by C.L. Werner, the company provides freight transportation and supply chain services to customers across North America.

The company’s operations include truckload transportation, dedicated transportation, and logistics services. Its truckload business transports general commodities through one-way and dedicated fleets, while its logistics operations arrange transportation using a network of carriers and other service providers.