Wabash National Co. (WNC) to Issue Quarterly Dividend of $0.08 on October 26th

Posted by Defense World Staff on Oct 2nd, 2023

Wabash National Co. (NYSE:WNC – Get Free Report) announced a quarterly dividend on Thursday, August 17th, Wall Street Journal reports. Investors of record on Thursday, October 5th will be paid a dividend of 0.08 per share on Thursday, October 26th. This represents a $0.32 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, October 4th.

Wabash National has a dividend payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Wabash National to earn $3.25 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 9.8%.

Wabash National Price Performance

Shares of NYSE WNC opened at $21.12 on Monday. The firm has a market cap of $992.64 million, a P/E ratio of 5.09 and a beta of 1.61. The company has a quick ratio of 0.89, a current ratio of 1.68 and a debt-to-equity ratio of 0.82. Wabash National has a twelve month low of $15.35 and a twelve month high of $30.10. The company has a 50 day moving average of $22.63 and a 200 day moving average of $23.84.

Wabash National (NYSE:WNC – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.22. Wabash National had a net margin of 7.75% and a return on equity of 48.85%. The business had revenue of $686.60 million for the quarter, compared to the consensus estimate of $739.98 million. During the same period last year, the firm earned $0.46 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that Wabash National will post 4.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Wabash National

Several institutional investors have recently made changes to their positions in WNC. Quantbot Technologies LP bought a new stake in Wabash National in the first quarter worth about $26,000. Quarry LP lifted its stake in shares of Wabash National by 451.5% during the 1st quarter. Quarry LP now owns 2,002 shares of the company’s stock worth $49,000 after acquiring an additional 1,639 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Wabash National by 21.7% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,998 shares of the company’s stock valued at $68,000 after acquiring an additional 535 shares during the period. Lazard Asset Management LLC increased its stake in Wabash National by 30.6% in the fourth quarter. Lazard Asset Management LLC now owns 3,521 shares of the company’s stock worth $79,000 after purchasing an additional 826 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Wabash National by 123.3% during the third quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company’s stock valued at $59,000 after purchasing an additional 2,108 shares during the period. Institutional investors own 97.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Wabash National in a research report on Thursday, August 17th. They set a “buy” rating for the company. DA Davidson downgraded Wabash National from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $25.00 in a research note on Wednesday, September 27th. Finally, Raymond James lowered shares of Wabash National from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 5th.

View Our Latest Research Report on WNC

About Wabash National

(Get Free Report)

Wabash National Corporation designs, manufactures, and distributes 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 provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; insulated van bodies; stake bodies; platform truck bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products.