According to Zacks, “In the second quarter of fiscal 2019, Oshkosh’s earnings and revenues beat the respective Zacks Consensus Estimate. Further, the figures rose on a year-over-year basis, supported by diverse end market and robust backlog. Further, the company updated fiscal 2019 on the back of strong backlogs along with integrated operations and supply chain. For the current fiscal year, it projects earnings per share of $7.50-$7.80. Also, improved product pricing and increased volume sales bode well for the company’s access equipment segment. It also pays regular dividends and engages in share buyback programs to enhance shareholder value. However, increasing raw material costs and macro-economic challenges are headwinds. Also, dependence on the U.S. government for the Defense segment’s sales is a concern for Oshkosh.”
A number of other brokerages also recently weighed in on OSK. Bank of America raised Oshkosh from a neutral rating to a buy rating and set a $86.00 price target on the stock in a research report on Thursday, January 31st. restated a sell rating on shares of Oshkosh in a report on Wednesday, February 13th. Royal Bank of Canada boosted their price objective on Oshkosh to $90.00 and gave the stock an outperform rating in a report on Thursday, January 31st. ValuEngine upgraded Oshkosh from a sell rating to a hold rating in a report on Wednesday, February 13th. Finally, UBS Group assumed coverage on Oshkosh in a report on Tuesday, April 23rd. They set a neutral rating and a $85.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $85.21.
Oshkosh (NYSE:OSK) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.98 billion. Oshkosh had a return on equity of 21.98% and a net margin of 6.76%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 earnings per share. On average, analysts anticipate that Oshkosh will post 7.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, May 15th. Oshkosh’s dividend payout ratio is presently 16.98%.
In other news, EVP John J. Bryant sold 4,819 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $77.85, for a total transaction of $375,159.15. Following the completion of the sale, the executive vice president now owns 6,309 shares in the company, valued at $491,155.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.
Large investors have recently modified their holdings of the company. Aristotle Capital Management LLC boosted its stake in shares of Oshkosh by 2.8% in the first quarter. Aristotle Capital Management LLC now owns 5,715,012 shares of the company’s stock valued at $429,369,000 after buying an additional 153,839 shares during the period. LSV Asset Management boosted its stake in shares of Oshkosh by 47.3% in the first quarter. LSV Asset Management now owns 3,251,606 shares of the company’s stock valued at $244,293,000 after buying an additional 1,044,322 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Oshkosh by 6,031.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,790,926 shares of the company’s stock valued at $29,000 after buying an additional 1,761,717 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Oshkosh by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,639,950 shares of the company’s stock valued at $123,200,000 after buying an additional 68,899 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Oshkosh by 26.8% in the first quarter. AQR Capital Management LLC now owns 1,360,136 shares of the company’s stock valued at $101,602,000 after buying an additional 287,385 shares during the period. Institutional investors own 89.53% of the company’s stock.
Oshkosh Company Profile
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. The company's Access Equipment segment provides aerial work platforms and telehandlers for use in various construction, industrial, institutional, and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales.
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