Wabash National (NYSE:WNC) Shares Gap Down on Disappointing Earnings

Wabash National Co. (NYSE:WNCGet Free Report) shares gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $15.64, but opened at $15.24. Wabash National shares last traded at $16.09, with a volume of 210,287 shares trading hands.

The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. During the same quarter last year, the business posted $1.07 EPS.

Wabash National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.08 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.32 annualized dividend and a yield of 2.05%. Wabash National’s dividend payout ratio is presently -5.89%.

Insider Transactions at Wabash National

In other Wabash National news, SVP Michael N. Pettit sold 1,500 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $17.19, for a total transaction of $25,785.00. Following the completion of the sale, the senior vice president now directly owns 117,227 shares in the company, valued at $2,015,132.13. This represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.78% of the stock is currently owned by insiders.

Institutional Trading of Wabash National

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its stake in Wabash National by 61.8% during the second quarter. Bank of Montreal Can now owns 16,971 shares of the company’s stock worth $373,000 after acquiring an additional 6,483 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Wabash National during the 2nd quarter valued at approximately $1,150,000. AQR Capital Management LLC increased its position in Wabash National by 3.6% during the 2nd quarter. AQR Capital Management LLC now owns 481,040 shares of the company’s stock worth $10,506,000 after purchasing an additional 16,633 shares in the last quarter. Millennium Management LLC lifted its stake in Wabash National by 1,311.6% in the 2nd quarter. Millennium Management LLC now owns 279,900 shares of the company’s stock valued at $6,113,000 after purchasing an additional 260,072 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Wabash National by 15.6% in the second quarter. Mackenzie Financial Corp now owns 12,431 shares of the company’s stock valued at $271,000 after buying an additional 1,677 shares in the last quarter. 97.05% of the stock is currently owned by institutional investors.

Wabash National Trading Down 4.3 %

The business’s 50 day simple moving average is $17.72 and its two-hundred day simple moving average is $18.75. The stock has a market cap of $676.71 million, a P/E ratio of -2.88 and a beta of 1.57. The company has a quick ratio of 1.12, a current ratio of 1.88 and a debt-to-equity ratio of 1.97.

About Wabash National

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Wabash National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wabash National and related companies with MarketBeat.com's FREE daily email newsletter.