Oshkosh (NYSE:OSK) Updates FY24 Earnings Guidance

Oshkosh (NYSE:OSK) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $11.25 for the period, compared to the consensus earnings per share estimate of $10.37. The company issued revenue guidance of $10.7 billion, compared to the consensus revenue estimate of $10.29 billion. Oshkosh also updated its FY 2024 guidance to 11.250-11.250 EPS.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Oshkosh in a report on Monday, January 8th. They issued an equal weight rating and a $102.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Oshkosh from $104.00 to $116.00 and gave the stock a neutral rating in a report on Wednesday, January 31st. Citigroup boosted their target price on Oshkosh from $115.00 to $130.00 and gave the stock a buy rating in a report on Wednesday, January 31st. DA Davidson upgraded Oshkosh from a neutral rating to a buy rating and boosted their target price for the stock from $122.00 to $130.00 in a report on Friday, March 1st. Finally, UBS Group boosted their target price on Oshkosh from $117.00 to $129.00 and gave the stock a buy rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Oshkosh presently has an average rating of Moderate Buy and a consensus target price of $120.25.

Oshkosh Stock Up 3.9 %

Shares of NYSE OSK opened at $126.00 on Thursday. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.53 and a beta of 1.29. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.16. Oshkosh has a 52-week low of $72.09 and a 52-week high of $127.98. The business’s 50 day moving average is $117.17 and its two-hundred day moving average is $106.82.

Oshkosh (NYSE:OSK) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.32. Oshkosh had a return on equity of 18.75% and a net margin of 6.19%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Research analysts predict that Oshkosh will post 10.33 EPS for the current year.

Oshkosh Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.46%. This is an increase from Oshkosh’s previous quarterly dividend of $0.41. Oshkosh’s payout ratio is presently 20.26%.

Insider Buying and Selling

In related news, SVP Anupam Khare sold 4,234 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $111.38, for a total transaction of $471,582.92. Following the completion of the transaction, the senior vice president now owns 13,499 shares in the company, valued at $1,503,518.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.64% of the company’s stock.

Oshkosh Company Profile

Oshkosh Corporation provides purpose-built vehicles and equipment worldwide. The company operates through three segments: Access, Defense, and Vocational segment. Its Access Equipment segment design and manufacture aerial work platform and telehandlers for use in construction, industrial, and maintenance applications; offers financing and leasing solutions including rental fleet loans, leases, and floor plan and retail financing; and towing and recovery equipment, which includes carriers, wreckers, and rotators, as well as provides equipment installation and sale of chassis and service parts.