NEW YORK (TheStreet) -- Shares of Werner Enterprises (WERN) - Get Werner Enterprises, Inc. Report closed higher by 4.77% to $25.26 on heavy trading volume Friday after the company posted earnings that exceeded analysts' projections.
After yesterday's closing bell, the Omaha, NE-based transportation and logistics company posted earnings of 25 cents per diluted share, above analysts' estimates of 23 cents per share.
In June, Werner guided earnings per share for the period between 21 cents and 25 cents per share.
Revenue declined 7% to $498.7 million from last year. Analysts were looking for revenue of $499.5 million.
"The principal reasons for the earnings decline in second quarter 2016 compared to second quarter 2015 were (i) sluggish freight market conditions, (ii) the cost of driver pay increases implemented in first quarter 2016 and independent contractor per mile increases in fourth quarter 2015 and (iii) a soft used truck market," the company said in a statement.
Last year, the company posted earnings of 44 cents per share.
About 1.54 million of the company's shares changed hands today vs. its average volume of 943,720 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and good cash flow from operations.
But the team also finds weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: WERN