Loading...
Loading...
Deutsche Bank maintained its rating at Buy on Werner Enterprises
WERN but reduced its price target from $31 to $30 on soft Q2 compared to estimates.
Deutsche Bank commented, "Yesterday after the close, WERN reported Q2 EPS of $0.42, inline with Consensus but $0.02 below our estimate. Despite a bigger-than-expected tailwind from lower net fuel costs and gains on sales, WERN's results fell short of our Q2 estimate as cost inflation (driver pay, health insurance, and maintenance expense) as well as weaker-than-expected tractor utilization (down 3.4% y/y) drove the downside. While we are disappointed with WERN's Q2 performance, we see strong earnings power as the company harnesses its more market-based pricing strategy, benefits from company-specific cost opportunities, and continues to grow VAS."
Werner Enterprises closed at $ on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in