YRC Worldwide (YRCW) Hits New 12-Month Low Following Weak Earnings

Shares of YRC Worldwide Inc (NASDAQ:YRCW) hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $6.30 and last traded at $6.31, with a volume of 103857 shares changing hands. The stock had previously closed at $8.26.

The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.42). The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. YRC Worldwide had a negative net margin of 0.09% and a negative return on equity of 2.36%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS.

A number of research firms recently commented on YRCW. Loop Capital began coverage on YRC Worldwide in a research note on Monday, October 1st. They issued a “buy” rating and a $18.00 price target for the company. Deutsche Bank raised YRC Worldwide from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, August 21st. Stifel Nicolaus dropped their price target on YRC Worldwide from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. Finally, BidaskClub downgraded YRC Worldwide from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. YRC Worldwide has an average rating of “Hold” and a consensus price target of $16.80.

A number of hedge funds have recently bought and sold shares of YRCW. Deprince Race & Zollo Inc. raised its stake in YRC Worldwide by 66.7% in the second quarter. Deprince Race & Zollo Inc. now owns 30,000 shares of the transportation company’s stock valued at $302,000 after purchasing an additional 12,000 shares in the last quarter. Hartford Investment Management Co. bought a new stake in YRC Worldwide in the second quarter valued at approximately $196,000. Acadian Asset Management LLC boosted its holdings in YRC Worldwide by 67.7% in the second quarter. Acadian Asset Management LLC now owns 40,817 shares of the transportation company’s stock valued at $410,000 after acquiring an additional 16,480 shares during the last quarter. Penn Capital Management Co. Inc. boosted its holdings in YRC Worldwide by 42.4% in the second quarter. Penn Capital Management Co. Inc. now owns 337,349 shares of the transportation company’s stock valued at $3,390,000 after acquiring an additional 100,435 shares during the last quarter. Finally, Algert Global LLC bought a new stake in YRC Worldwide in the second quarter valued at approximately $237,000. 78.15% of the stock is owned by institutional investors and hedge funds.

The firm has a market cap of $281.27 million, a P/E ratio of 33.04 and a beta of 3.75.

About YRC Worldwide (NASDAQ:YRCW)

YRC Worldwide Inc, through its subsidiaries, provides various transportation services primarily in North America. Its YRC Freight segment offers various services to transport industrial, commercial, and retail goods; and provides specialized services, including guaranteed expedited services, time-specific deliveries, cross-border services, coast-to-coast air delivery, product returns, temperature-sensitive shipment protection, and government material shipments.

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