Analysts React To Werner Enterprises' Low Guidance

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Late Monday, Werner Enterprises Inc WERN issued Q2 EPS guidance of $0.21-$0.25 versus consensus estimates of $0.40. Here’s a sample of how analysts responded to the change in outlook:

  • JPMorgan downgraded Werner from Overweight to Neutral, lowered price target from $30.00 to $23.00.
  • Bank of America downgraded from Neutral to Underperform.
  • Deutsche Bank downgraded from Buy to Hold.
  • Barclays maintained Equal-Weight, lowered the price target from $28 to $23.

Management cited sluggish freight market conditions, cost of driver pay increases, and soft used truck market as causes for the guidance cut.

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