In a challenging economic climate, Wabash National Corporation (NYSE: NYSE:WNC) stock has touched a 52-week low, dipping to $18.24. The manufacturer of semi-trailers and liquid transportation systems has faced headwinds over the past year, reflected in a 1-year change showing a decline of 13.03%. Investors are closely monitoring the company's performance as it navigates through industry-specific challenges and broader market pressures that have impacted its stock price. The current low presents a critical juncture for Wabash National, as market participants consider the company's strategic moves to bolster its financial standing and growth trajectory in the face of persistent economic uncertainties.
In other recent news, Wabash National Corporation is facing substantial legal and financial challenges. The company has been ordered to pay $462 million in damages following a product liability lawsuit related to a 2019 motor vehicle accident. Wabash is contesting the verdict and considering all legal options, including appeals.
In the midst of these developments, Wabash reported Q2 2024 earnings that met revenue expectations and surpassed earnings per share forecasts. The company adjusted its full-year 2024 guidance to a midpoint of $2.1 billion in revenue and $1.55 in EPS. Wabash also declared a quarterly dividend of $0.08 per share, reinforcing its commitment to shareholder value.
DA Davidson maintained a neutral stance on shares of Wabash National, keeping the price target at $23.00, despite improvements at the company's new South Plant. Wabash also announced a series of executive leadership changes, with Mike Pettit transitioning to Senior Vice President, Chief Growth Officer, and Patrick Keslin stepping in as Senior Vice President, Chief Financial Officer. These are the recent developments in Wabash National Corporation.
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