Wabash National (WNC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Wabash National (WNC) closed at $24.71, marking a -0.28% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 1.37%.
Coming into today, shares of the maker of truck trailers had lost 9.96% in the past month. In that same time, the Auto-Tires-Trucks sector gained 14.66%, while the S&P 500 gained 3.43%.
Investors will be hoping for strength from Wabash National as it approaches its next earnings release, which is expected to be July 25, 2023. In that report, analysts expect Wabash National to post earnings of $1.32 per share. This would mark year-over-year growth of 186.96%. Our most recent consensus estimate is calling for quarterly revenue of $751 million, up 16.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.19 per share and revenue of $2.77 billion, which would represent changes of +86.22% and +10.83%, respectively, from the prior year.
Any recent changes to analyst estimates for Wabash National should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.33% lower. Wabash National is currently a Zacks Rank #4 (Sell).
In terms of valuation, Wabash National is currently trading at a Forward P/E ratio of 5.92. Its industry sports an average Forward P/E of 15.4, 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 group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Wabash National Corporation (WNC) : Free Stock Analysis Report
