Zacks Investment Research upgraded shares of Schneider National (NYSE:SNDR) from a strong sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $20.00 price objective on the stock.
According to Zacks, “Schneider National takes a hit from the disappointing performance of its major revenue generating segment truckload. Segmental revenues declined 6.1% in the first nine months of 2019 due to lower volumes and soft pricing. Closure of FTFM operations within the truckload unit also bumped up costs. Additionally, revenues at the logistics division decreased 4.9% in the first nine months of 2019. Moreover, this situation is unlikely to improve in the remainder of 2019. Due to these headwinds, the company trimmed its 2019 earnings guidance twice this year. The pessimism surrounding the stock is evident from the Zacks Consensus Estimate for current-year earnings being revised downward over the past 60 days. However, despite the negatives, shares of Schneider have outperformed its industry so far this year, partly owing to strength in its intermodal unit.”
A number of other research firms also recently commented on SNDR. Stephens set a $27.00 price target on Schneider National and gave the stock a buy rating in a research note on Friday, November 1st. Citigroup raised shares of Schneider National from a neutral rating to a buy rating and raised their target price for the stock from $22.00 to $23.00 in a report on Tuesday, September 3rd. Stifel Nicolaus cut shares of Schneider National from a buy rating to a hold rating and set a $21.00 target price on the stock. in a report on Thursday, October 10th. UBS Group set a $26.00 target price on shares of Schneider National and gave the stock a buy rating in a report on Friday, November 1st. Finally, Morgan Stanley set a $32.00 target price on shares of Schneider National and gave the stock a buy rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $24.55.
Schneider National (NYSE:SNDR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.22 billion. Schneider National had a return on equity of 11.12% and a net margin of 3.58%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. On average, equities research analysts forecast that Schneider National will post 1.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, December 13th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 1.00%. Schneider National’s dividend payout ratio is currently 15.48%.
In other news, VP Amy G. Schilling sold 8,000 shares of Schneider National stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $23.99, for a total transaction of $191,920.00. Company insiders own 28.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SNDR. North Star Investment Management Corp. bought a new stake in shares of Schneider National during the third quarter valued at approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Schneider National during the second quarter valued at approximately $64,000. Commonwealth Bank of Australia raised its holdings in shares of Schneider National by 57.9% during the second quarter. Commonwealth Bank of Australia now owns 6,000 shares of the company’s stock valued at $109,000 after buying an additional 2,200 shares during the last quarter. River & Mercantile Asset Management LLP bought a new stake in shares of Schneider National during the second quarter valued at approximately $187,000. Finally, Holocene Advisors LP bought a new stake in shares of Schneider National during the second quarter valued at approximately $245,000. 24.40% of the stock is currently owned by institutional investors.
Schneider National Company Profile
Schneider National, Inc, a transportation and logistics services company, provides truckload, intermodal, and logistics solutions in North America. Its Truckload segment provides standard long-haul and regional shipping services through dry van equipment; and bulk, temperature-controlled, first to final mile delivery, and customized solutions for time-sensitive loads.
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