Navistar International Corp (NYSE:NAV)’s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $35.64, but opened at $37.04. Navistar International shares last traded at $38.17, with a volume of 2704626 shares traded.
The company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.17. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.93 billion. Navistar International had a negative return on equity of 1.76% and a net margin of 0.22%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.76) EPS.
A number of brokerages recently commented on NAV. Susquehanna Bancshares set a $49.00 price objective on Navistar International and gave the stock a “buy” rating in a research note on Friday. Gabelli upgraded Navistar International from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Friday. Stifel Nicolaus set a $50.00 price objective on Navistar International and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird restated a “buy” rating and set a $53.00 price objective on shares of Navistar International in a research note on Thursday. Finally, Zacks Investment Research downgraded Navistar International from a “strong-buy” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $44.13.
The company has a debt-to-equity ratio of -0.85, a current ratio of 1.14 and a quick ratio of 0.91. The company has a market cap of $3,600.00, a PE ratio of 339.45, a price-to-earnings-growth ratio of 3.93 and a beta of 2.66.
About Navistar International
Navistar International Corporation is a holding company whose principal operating entities are Navistar, Inc and Navistar Financial Corporation (NFC). The Company’s segments include Truck, Parts, Global Operations (collectively, Manufacturing operations) and Financial Services, which consists of NFC and its foreign finance operations (collectively, Financial Services operations).
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