Wabash National (NYSE:WNC) Releases FY24 Earnings Guidance

Wabash National (NYSE:WNC) updated its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.00-$2.50 for the period, compared to the consensus earnings per share estimate of $2.19. The company issued revenue guidance of $2.2-$2.4 billion, compared to the consensus revenue estimate of $2.25 billion. Wabash National also updated its FY 2024 guidance to 2.000-2.500 EPS.

Wabash National Stock Down 5.2 %

NYSE WNC traded down $1.33 on Wednesday, reaching $24.42. The stock had a trading volume of 966,205 shares, compared to its average volume of 610,457. The company has a current ratio of 1.93, a quick ratio of 1.17 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 5.08 and a beta of 1.58. The business has a 50 day moving average price of $27.38 and a 200 day moving average price of $24.92. Wabash National has a 1 year low of $20.09 and a 1 year high of $30.07.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.18. Wabash National had a net margin of 9.12% and a return on equity of 46.87%. The business had revenue of $596.10 million during the quarter, compared to analysts’ expectations of $633.68 million. During the same period in the previous year, the company earned $0.84 earnings per share. Wabash National’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, analysts forecast that Wabash National will post 2.19 EPS for the current fiscal year.

Wabash National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, April 4th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.32 annualized dividend and a yield of 1.31%. Wabash National’s dividend payout ratio (DPR) is currently 6.65%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Wabash National from a hold rating to a buy rating in a research note on Thursday, April 18th.

Insider Activity

In other Wabash National news, Director Larry J. Magee sold 3,086 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total value of $81,779.00. Following the transaction, the director now directly owns 114,146 shares in the company, valued at $3,024,869. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Priyadarshi Sudhanshu sold 1,010 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the transaction, the director now directly owns 6,386 shares in the company, valued at $172,805.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Larry J. Magee sold 3,086 shares of Wabash National stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $26.50, for a total transaction of $81,779.00. Following the sale, the director now directly owns 114,146 shares of the company’s stock, valued at approximately $3,024,869. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company’s stock.

About Wabash National

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.