Werner Enterprises (NASDAQ:WERN) Given New $34.00 Price Target at JPMorgan Chase & Co.

Werner Enterprises (NASDAQ:WERN) had its price target decreased by JPMorgan Chase & Co. from $37.00 to $34.00 in a research report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the transportation company’s stock.

Several other research analysts have also issued reports on the company. The Goldman Sachs Group dropped their price objective on Werner Enterprises from $37.00 to $33.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Susquehanna increased their target price on shares of Werner Enterprises from $26.00 to $30.00 and gave the stock a “negative” rating in a research report on Thursday, September 26th. Stephens cut their price target on shares of Werner Enterprises from $40.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Citigroup started coverage on shares of Werner Enterprises in a research note on Wednesday, October 9th. They set a “sell” rating and a $34.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Werner Enterprises from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Wednesday. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Werner Enterprises has an average rating of “Hold” and a consensus price target of $36.50.

Werner Enterprises Stock Performance

NASDAQ WERN opened at $37.30 on Wednesday. Werner Enterprises has a twelve month low of $33.12 and a twelve month high of $43.26. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.31 billion, a P/E ratio of 37.68, a PEG ratio of 11.70 and a beta of 0.79. The company’s 50-day simple moving average is $37.10 and its 200 day simple moving average is $36.75.

Werner Enterprises (NASDAQ:WERN) last released its quarterly earnings data on Tuesday, October 29th. The transportation company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.07). Werner Enterprises had a net margin of 1.99% and a return on equity of 4.70%. The company had revenue of $745.70 million during the quarter, compared to the consensus estimate of $765.24 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, research analysts forecast that Werner Enterprises will post 0.87 earnings per share for the current fiscal year.

Werner Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.14 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.56 annualized dividend and a dividend yield of 1.50%. Werner Enterprises’s dividend payout ratio (DPR) is currently 56.57%.

Hedge Funds Weigh In On Werner Enterprises

Several large investors have recently made changes to their positions in WERN. US Bancorp DE raised its holdings in Werner Enterprises by 271.1% during the 3rd quarter. US Bancorp DE now owns 4,776 shares of the transportation company’s stock worth $184,000 after purchasing an additional 3,489 shares during the last quarter. Congress Asset Management Co. grew its position in shares of Werner Enterprises by 10.1% during the 3rd quarter. Congress Asset Management Co. now owns 369,658 shares of the transportation company’s stock worth $14,265,000 after buying an additional 33,891 shares during the period. Diversify Wealth Management LLC grew its position in shares of Werner Enterprises by 13.9% during the 3rd quarter. Diversify Wealth Management LLC now owns 7,434 shares of the transportation company’s stock worth $279,000 after buying an additional 906 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of Werner Enterprises by 2.0% during the third quarter. Pinnacle Associates Ltd. now owns 460,453 shares of the transportation company’s stock worth $19,509,000 after buying an additional 9,143 shares during the last quarter. Finally, abrdn plc lifted its holdings in Werner Enterprises by 26.9% in the third quarter. abrdn plc now owns 497,430 shares of the transportation company’s stock valued at $19,196,000 after buying an additional 105,488 shares during the period. Institutional investors and hedge funds own 89.32% of the company’s stock.

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.