Wabash National (WNC) Gains As Market Dips: What You Should Know
Wabash National (WNC) closed at $22.55 in the latest trading session, marking a +0.36% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.48%, and the Nasdaq, a tech-heavy index, added 0.11%.
Coming into today, shares of the maker of truck trailers had lost 4.95% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.21%, while the S&P 500 lost 1.25%.
Wabash National will be looking to display strength as it nears its next earnings release. On that day, Wabash National is projected to report earnings of $1 per share, which would represent year-over-year growth of 36.99%. Meanwhile, our latest consensus estimate is calling for revenue of $680 million, up 3.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.51 per share and revenue of $2.64 billion, which would represent changes of +100.44% and +5.47%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Wabash National. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.04% higher. Wabash National is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Wabash National is currently trading at a Forward P/E ratio of 4.98. Its industry sports an average Forward P/E of 15.06, so we one might conclude that Wabash National is trading at a discount comparatively.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Wabash National Corporation (WNC) : Free Stock Analysis Report
