$1.88 Billion in Sales Expected for Oshkosh Corporation (OSK) This Quarter
Brokerages expect that Oshkosh Corporation (NYSE:OSK) will post sales of $1.88 billion for the current quarter, Zacks reports. Nine analysts have provided estimates for Oshkosh Corporation’s earnings, with estimates ranging from $1.86 billion to $1.91 billion. Oshkosh Corporation posted sales of $1.76 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Oshkosh Corporation will report full year sales of $1.88 billion for the current financial year, with estimates ranging from $6.62 billion to $6.78 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $6.93 billion per share, with estimates ranging from $6.81 billion to $7.05 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Oshkosh Corporation.
Oshkosh Corporation (NYSE:OSK) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.51. Oshkosh Corporation had a net margin of 3.83% and a return on equity of 14.49%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the business earned $1.13 EPS. The company’s revenue was up 16.6% on a year-over-year basis.
OSK has been the topic of several research analyst reports. Drexel Hamilton upgraded shares of Oshkosh Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Friday, August 4th. Bank of America Corporation upgraded shares of Oshkosh Corporation from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $60.00 to $78.00 in a research note on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and issued a $85.00 price objective on shares of Oshkosh Corporation in a research note on Thursday, July 13th. Royal Bank Of Canada raised their price objective on shares of Oshkosh Corporation from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price target on shares of Oshkosh Corporation in a research note on Thursday, August 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Oshkosh Corporation currently has an average rating of “Buy” and a consensus price target of $75.67.
In related news, VP R Scott Grennier sold 4,883 shares of Oshkosh Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $74.40, for a total value of $363,295.20. Following the completion of the transaction, the vice president now directly owns 4,912 shares of the company’s stock, valued at $365,452.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert S. Messina sold 3,400 shares of Oshkosh Corporation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $75.23, for a total value of $255,782.00. Following the completion of the transaction, the vice president now directly owns 12,558 shares of the company’s stock, valued at $944,738.34. The disclosure for this sale can be found here. Insiders sold 50,533 shares of company stock valued at $3,810,466 over the last ninety days. 2.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OSK. BlackRock Inc. boosted its position in Oshkosh Corporation by 5,532.7% in the first quarter. BlackRock Inc. now owns 6,431,080 shares of the company’s stock worth $441,107,000 after buying an additional 6,316,906 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Oshkosh Corporation by 85.0% in the second quarter. JPMorgan Chase & Co. now owns 2,316,316 shares of the company’s stock worth $159,548,000 after buying an additional 1,063,971 shares in the last quarter. AQR Capital Management LLC boosted its position in Oshkosh Corporation by 54.3% in the first quarter. AQR Capital Management LLC now owns 2,950,143 shares of the company’s stock worth $202,350,000 after buying an additional 1,037,968 shares in the last quarter. Vanguard Group Inc. boosted its position in Oshkosh Corporation by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,767,922 shares of the company’s stock worth $464,212,000 after buying an additional 973,348 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Oshkosh Corporation by 194.2% in the first quarter. Prudential Financial Inc. now owns 890,505 shares of the company’s stock worth $61,080,000 after buying an additional 587,822 shares in the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.
Shares of Oshkosh Corporation (NYSE:OSK) opened at 74.16 on Thursday. The stock has a 50 day moving average of $71.34 and a 200-day moving average of $68.78. Oshkosh Corporation has a one year low of $50.77 and a one year high of $77.20. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 22.01 and a beta of 1.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.13%. Oshkosh Corporation’s dividend payout ratio is 25.07%.
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About Oshkosh Corporation
Oshkosh Corporation is a manufacturer and marketer of access equipment, specialty vehicles and truck bodies for the primary markets of defense, concrete placement, refuse hauling, access equipment, and fire and emergency. The company’s brands include Oshkosh, JLG, Pierce, McNeilus, IMT, Frontline, Jerr-Dan, CON-E-CO and London.
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