New York, September 17 (FinanceEnquiry.com) – Analysts at Wunderlich Securities reiterate their BUY rating on the shares of Werner Enterprises Inc (NASDAQ: WERN). The 12-month target price has marginally been reduced from $28.00 to $27.00.
In a research note published on September 14, the analysts mention that being behind the estimate and the consensus of $0.43 and $0.44, respectively, Werner Enterprises proclaimed after the close of September 13 about expecting EPS of 3Q12 in the range of $0.33 to $0.36.
Furthermore, in over four and a half years, this marks the first time that WERN has made pre-announcemnet of quarterly results. In addition to this, several rising cost pressures, the growth of which is outpacing gains of yr/yr in revenue per mile, were mentioned by the company. In addition to this, all TL carriers are impacted by a number of these cost issues, however some are possibly WERN specific.
Moreover, with EPS of FY12 and FY13 skidding from $1.56 to $1.45 and from $1.74 to $1.62, respectively, estimates have been reduced. As defensible revenue base, strong management team, and high propensity for dividend payments of Werner Enterprises are viewed significantly, reiteration of BUY rating is done, the analysts add further.
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