Con-Way PT Lowered to $43.00 (CNW)
Analysts at Deutsche Bank lowered their price objective on shares of Con-Way (NYSE:CNW) from $45.00 to $43.00 in a research report issued to clients and investors on Friday, AnalystRatingsNetwork reports. Deutsche Bank’s price target suggests a potential upside of 9.95% from the stock’s previous close.
Shares of Con-Way (NYSE:CNW) traded down 2.53% on Friday, hitting $38.12. The stock had a trading volume of 1,110,596 shares. Con-Way has a 1-year low of $31.18 and a 1-year high of $46.52. The stock’s 50-day moving average is $39.62 and its 200-day moving average is $41.80. The company has a market cap of $2.169 billion and a P/E ratio of 22.44.
Con-Way (NYSE:CNW) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.16. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Con-Way will post $2.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of 0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Wednesday, February 12th.
A number of other firms have also recently commented on CNW. Analysts at JPMorgan Chase & Co. cut their price target on shares of Con-Way from $45.00 to $40.00 in a research note to investors on Friday, January 17th. Separately, analysts at Zacks upgraded shares of Con-Way from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 14th. They now have a $42.70 price target on the stock. Finally, analysts at Wells Fargo & Co. upgraded shares of Con-Way from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, January 10th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $41.81.
Con-way Inc and its subsidiaries (NYSE:CNW) provides transportation, logistics and supply-chain management services for a range of manufacturing, industrial and retail customers.
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