Werner Enterprises (NASDAQ:WERN) Given New $34.00 Price Target at Citigroup

Werner Enterprises (NASDAQ:WERN) had its price objective boosted by Citigroup from $27.00 to $34.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also issued reports on WERN. Bank of America reduced their target price on Werner Enterprises from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 10th. Stifel Nicolaus boosted their price target on Werner Enterprises from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. TD Cowen decreased their price objective on Werner Enterprises from $24.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, October 31st. Evercore ISI dropped their price objective on Werner Enterprises from $23.00 to $20.00 and set an “underperform” rating for the company in a research report on Friday, October 31st. Finally, Wall Street Zen downgraded shares of Werner Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, Werner Enterprises presently has a consensus rating of “Reduce” and a consensus price target of $28.71.

Werner Enterprises Stock Performance

NASDAQ:WERN opened at $33.02 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.59 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1.98 billion, a P/E ratio of 80.54, a price-to-earnings-growth ratio of 0.78 and a beta of 1.07. The firm has a 50-day moving average price of $28.06 and a two-hundred day moving average price of $27.94. Werner Enterprises has a twelve month low of $23.02 and a twelve month high of $38.60.

Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings results on Thursday, October 30th. The transportation company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.18). The business had revenue of $712.04 million during the quarter, compared to analysts’ expectations of $763.63 million. Werner Enterprises had a net margin of 0.85% and a return on equity of 0.14%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company earned $0.15 EPS. As a group, research analysts expect that Werner Enterprises will post 1.27 earnings per share for the current fiscal year.

Werner Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, January 5th. Werner Enterprises’s dividend payout ratio is presently 136.59%.

Institutional Investors Weigh In On Werner Enterprises

A number of institutional investors have recently bought and sold shares of WERN. Caitong International Asset Management Co. Ltd increased its position in Werner Enterprises by 57.8% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,018 shares of the transportation company’s stock worth $28,000 after purchasing an additional 373 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Werner Enterprises by 0.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,854 shares of the transportation company’s stock valued at $3,717,000 after purchasing an additional 401 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Werner Enterprises by 6.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,271 shares of the transportation company’s stock valued at $165,000 after buying an additional 403 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Werner Enterprises by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 23,008 shares of the transportation company’s stock worth $629,000 after buying an additional 492 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Werner Enterprises by 0.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 64,228 shares of the transportation company’s stock worth $1,758,000 after buying an additional 503 shares during the last quarter. 89.32% of the stock is currently owned by hedge funds and other institutional investors.

About Werner Enterprises

Werner Enterprises, Inc, founded in 1956 by Clarence L. “Chris” Werner, is a leading transportation and logistics provider based in Omaha, Nebraska. The company began as a one‐truck operation and has since grown into one of North America’s largest carriers, offering an array of services to support diverse supply chains.

Werner’s core business activities include full truckload dry van services, dedicated contract carriage, intermodal transport and brokerage solutions. The company also provides value-added services such as warehousing, freight management and fleet maintenance through its network of terminals and service centers.