Wabash National (NYSE:WNC) Posts Earnings Results, Misses Estimates By $0.06 EPS

Wabash National (NYSE:WNC) released its earnings results on Wednesday. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06), reports. Wabash National had a return on equity of 37.84% and a net margin of 8.15%. The firm had revenue of $515.28 million during the quarter. Wabash National updated its FY24 guidance to $2.00-$2.50 EPS and its FY 2024 guidance to 2.000-2.500 EPS.

Wabash National Price Performance

Shares of WNC opened at $24.61 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.87 and a quick ratio of 1.17. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 5.92 and a beta of 1.58. The business’s 50-day moving average is $27.26 and its 200-day moving average is $24.93. Wabash National has a fifty-two week low of $20.09 and a fifty-two week high of $30.07.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.32 annualized dividend and a yield of 1.30%. Wabash National’s dividend payout ratio (DPR) is presently 7.69%.

Insider Activity at Wabash National

In other Wabash National news, Director Priyadarshi Sudhanshu sold 1,010 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the completion of the sale, the director now owns 6,386 shares in the company, valued at approximately $172,805.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Wabash National news, Director Priyadarshi Sudhanshu sold 1,010 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total value of $27,330.60. Following the transaction, the director now directly owns 6,386 shares of the company’s stock, valued at approximately $172,805.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Larry J. Magee sold 3,086 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was 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 $3,024,869. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.

Institutional Trading of Wabash National

Large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. bought a new stake in Wabash National in the third quarter worth $1,595,000. AQR Capital Management LLC boosted its stake in shares of Wabash National by 12.7% during the 3rd quarter. AQR Capital Management LLC now owns 547,322 shares of the company’s stock worth $11,559,000 after acquiring an additional 61,887 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Wabash National by 99.0% during the 3rd quarter. American Century Companies Inc. now owns 264,288 shares of the company’s stock valued at $5,582,000 after acquiring an additional 131,512 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Wabash National by 143.4% in the 3rd quarter. Quantbot Technologies LP now owns 38,185 shares of the company’s stock valued at $806,000 after acquiring an additional 22,495 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wabash National by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 593,057 shares of the company’s stock worth $12,525,000 after purchasing an additional 49,443 shares during the last quarter. 97.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Wabash National from a “buy” rating to a “hold” rating in a research report on Friday.

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.