Werner Enterprises Given New $26.00 Price Target at Raymond James (WERN)
Investment analysts at Raymond James lowered their target price on shares of Werner Enterprises (NASDAQ:WERN) from $28.00 to $26.00 in a note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 11.59% from the stock’s previous close.
Shares of Werner Enterprises (NASDAQ:WERN) traded down 0.38% during mid-day trading on Wednesday, hitting $23.30. The stock had a trading volume of 928,063 shares. Werner Enterprises has a 1-year low of $20.63 and a 1-year high of $25.44. The stock’s 50-day moving average is $23.81 and its 200-day moving average is $23.97. The company has a market cap of $1.694 billion and a P/E ratio of 18.27.
Werner Enterprises (NASDAQ:WERN) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.35 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.37 by $0.02. The company had revenue of $506.65 million for the quarter, compared to the consensus estimate of $519.28 million. During the same quarter last year, the company posted $0.42 earnings per share. Werner Enterprises’s revenue was down 2.9% compared to the same quarter last year. On average, analysts predict that Werner Enterprises will post $1.32 earnings per share for the current fiscal year.
WERN has been the subject of a number of other recent research reports. Analysts at Merrill Lynch downgraded shares of Werner Enterprises (NASDAQ:WERN) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, analysts at Barclays Capital cut their price target on shares of Werner Enterprises (NASDAQ:WERN) from $29.00 to $27.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Werner Enterprises (NASDAQ:WERN) from $24.00 to $22.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock.
One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Werner Enterprises presently has a consensus rating of “Hold” and a consensus price target of $24.68.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 22nd. Stockholders of record on Monday, October 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 8.58%. The ex-dividend date of this dividend is Thursday, October 3rd.
Werner Enterprises, Inc is a transportation and logistics company engaged primarily in hauling truckload shipments of general commodities in both interstate and intrastate commerce.
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