Werner Enterprises increased its quarterly cash dividend by 11% to $0.10 per share. The transportation and logistics company has rewarded shareholders with a quarterly cash dividend every quarter since July 1987.
Werner (WERN) announced that the new dividend will be paid on May 4 to shareholders of record as of April 19.
The company’s annual dividend of $0.40 per share now reflects a dividend yield of 0.92%.
On Feb. 5, Cowen & Co. analyst Jason Seidl increased the stock’s price target to $49 (13.3% upside potential) from $48 and maintained a Hold rating. The analyst argues “Werner is well positioned to benefit from truckload demand while possessing the resources necessary to ramp up capacity in the face of driver shortages and the Hours-of-Service regulations.”
Furthermore, Seidl believes “WERN shares are fairly valued at current levels.” (See Werner stock analysis on TipRanks)
The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 4 analysts suggesting a Buy, 4 analysts recommending a Hold and 1 analyst suggesting a Sell. The average analyst price target of $46.67 implies almost 8% upside potential to current levels. Shares have jumped around 18% over the past year.
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