Wabash National FY2024 EPS Forecast Decreased by DA Davidson

Wabash National Co. (NYSE:WNC) – Equities research analysts at DA Davidson lowered their FY2024 EPS estimates for Wabash National in a report released on Monday, October 28th. DA Davidson analyst M. Shlisky now anticipates that the company will earn $1.29 per share for the year, down from their previous forecast of $1.53. DA Davidson has a “Neutral” rating and a $18.00 price objective on the stock. The consensus estimate for Wabash National’s current full-year earnings is $1.25 per share. DA Davidson also issued estimates for Wabash National’s Q4 2024 earnings at $0.02 EPS.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $464.00 million during the quarter, compared to analysts’ expectations of $477.35 million. Wabash National had a negative net margin of 10.94% and a positive return on equity of 22.98%. The business’s revenue for the quarter 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 Stock Performance

Shares of WNC opened at $17.92 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.12 and a debt-to-equity ratio of 1.97. The firm has a market cap of $776.65 million, a PE ratio of -3.30 and a beta of 1.52. The company’s 50 day simple moving average is $18.75 and its 200-day simple moving average is $20.87. Wabash National has a 12-month low of $15.94 and a 12-month high of $30.07.

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.79%. Wabash National’s dividend payout ratio (DPR) is presently -5.89%.

Institutional Investors Weigh In On Wabash National

Several hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. lifted its holdings in shares of Wabash National by 4.2% during the first quarter. QRG Capital Management Inc. now owns 14,910 shares of the company’s stock worth $446,000 after purchasing an additional 606 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Wabash National by 7.2% during the first quarter. ProShare Advisors LLC now owns 9,273 shares of the company’s stock worth $278,000 after purchasing an additional 624 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Wabash National by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 31,310 shares of the company’s stock worth $684,000 after purchasing an additional 690 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Wabash National by 2.8% during the first quarter. Illinois Municipal Retirement Fund now owns 26,265 shares of the company’s stock worth $786,000 after purchasing an additional 708 shares during the period. Finally, Kendall Capital Management lifted its holdings in shares of Wabash National by 4.0% during the second quarter. Kendall Capital Management now owns 31,525 shares of the company’s stock worth $689,000 after purchasing an additional 1,200 shares during the period. 97.05% of the stock is owned by institutional investors and hedge funds.

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.