Stock Buyback Program Approved by Wabash National (WNC) Board of Directors

Wabash National (NYSE:WNC) declared that its Board of Directors has authorized a share buyback program, which permits the company to buyback $100.00 million in outstanding shares on Thursday, November 15th. This buyback authorization permits the company to buy up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Shares of NYSE:WNC opened at $15.72 on Friday. The company has a market cap of $852.84 million, a P/E ratio of 11.39, a P/E/G ratio of 0.36 and a beta of 1.90. Wabash National has a 1 year low of $12.40 and a 1 year high of $26.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.18 and a current ratio of 1.93.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.29. The business had revenue of $553.07 million for the quarter, compared to the consensus estimate of $552.11 million. Wabash National had a return on equity of 16.97% and a net margin of 4.87%. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. On average, analysts anticipate that Wabash National will post 1.52 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Thursday, January 3rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, January 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 2.04%. This is an increase from Wabash National’s previous quarterly dividend of $0.08. Wabash National’s dividend payout ratio is currently 21.74%.

WNC has been the topic of a number of recent research reports. ValuEngine upgraded Wabash National from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Piper Jaffray Companies set a $22.00 target price on Wabash National and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Stifel Nicolaus lowered their target price on Wabash National from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, August 2nd. Zacks Investment Research lowered Wabash National from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Finally, Loop Capital initiated coverage on Wabash National in a research note on Monday, October 1st. They set a “buy” rating and a $27.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $20.13.

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Wabash National Company Profile

Wabash National Corporation manufactures and sells semi-trailers, truck bodies, specialized commercial vehicles, and liquid transportation systems. The company's Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and trailers; aftermarket parts and services; and used trailers.

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