Wabash National (NYSE:WNC) Stock Price Down 4.9% Following Weak Earnings

Wabash National Co. (NYSE:WNC)’s share price traded down 4.9% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $15.94 and last traded at $16.22. 197,178 shares changed hands during trading, a decline of 66% from the average session volume of 587,477 shares. The stock had previously closed at $17.06.

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

Wabash National Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 1.78%. Wabash National’s dividend payout ratio (DPR) is presently 9.82%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Wabash National

Several institutional investors have recently modified their holdings of WNC. Kathleen S. Wright Associates Inc. purchased a new position in shares of Wabash National during the third quarter worth approximately $27,000. Innealta Capital LLC purchased a new stake in Wabash National during the second quarter valued at about $33,000. Point72 Hong Kong Ltd bought a new position in shares of Wabash National during the second quarter valued at about $34,000. Tradewinds Capital Management LLC bought a new stake in shares of Wabash National in the 1st quarter valued at about $48,000. Finally, CWM LLC grew its position in Wabash National by 353.5% during the 2nd quarter. CWM LLC now owns 2,272 shares of the company’s stock worth $50,000 after acquiring an additional 1,771 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors.

Wabash National Stock Up 6.3 %

The stock has a market cap of $790.68 million, a P/E ratio of 5.51 and a beta of 1.52. The company has a quick ratio of 1.15, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $18.78 and a two-hundred day simple moving average of $21.03.

Wabash National Company Profile

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.