Navistar International Corporation to Post Q2 2018 Earnings of $0.25 Per Share, Jefferies Group Forecasts (NAV)
Navistar International Corporation (NYSE:NAV) – Jefferies Group issued their Q2 2018 earnings per share (EPS) estimates for Navistar International Corporation in a research note issued to investors on Wednesday. Jefferies Group analyst S. Volkmann forecasts that the company will post earnings of $0.25 per share for the quarter. Jefferies Group has a “Positive” rating and a $47.00 price objective on the stock. Jefferies Group also issued estimates for Navistar International Corporation’s Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.90 EPS and FY2019 earnings at $3.75 EPS.
Navistar International Corporation (NYSE:NAV) last announced its earnings results on Wednesday, September 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.17 billion. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.42) earnings per share.
A number of other equities analysts have also recently issued reports on NAV. Robert W. Baird upgraded Navistar International Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $32.00 to $33.00 in a report on Monday, June 5th. Barclays PLC restated a “sell” rating and set a $20.00 price target on shares of Navistar International Corporation in a report on Thursday, June 8th. Stifel Nicolaus restated a “hold” rating and set a $26.00 price target (up from $24.00) on shares of Navistar International Corporation in a report on Friday, June 9th. Wells Fargo & Company restated a “market perform” rating and set a $32.00 price target (up from $26.50) on shares of Navistar International Corporation in a report on Friday, June 9th. Finally, UBS AG restated a “neutral” rating and set a $31.00 price target (up from $29.00) on shares of Navistar International Corporation in a report on Sunday, June 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.75.
Navistar International Corporation (NYSE NAV) opened at 38.89 on Thursday. The company’s market capitalization is $3.82 billion. Navistar International Corporation has a 52 week low of $18.07 and a 52 week high of $39.00. The stock’s 50 day moving average is $31.71 and its 200 day moving average is $27.85.
In related news, major shareholder Truck & Bus Gmbh Volkswagen purchased 43,501 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was acquired at an average cost of $29.25 per share, with a total value of $1,272,404.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 499,781 shares of company stock valued at $14,693,815 over the last three months. 21.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL purchased a new stake in Navistar International Corporation in the 2nd quarter valued at $175,453,000. Vanguard Group Inc. raised its position in Navistar International Corporation by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,219,294 shares of the company’s stock valued at $110,673,000 after buying an additional 96,310 shares during the last quarter. Ardevora Asset Management LLP raised its position in Navistar International Corporation by 32.1% in the 2nd quarter. Ardevora Asset Management LLP now owns 1,361,100 shares of the company’s stock valued at $35,702,000 after buying an additional 330,700 shares during the last quarter. Impala Asset Management LLC purchased a new stake in Navistar International Corporation in the 2nd quarter valued at $29,727,000. Finally, State Street Corp raised its position in Navistar International Corporation by 2.5% in the 2nd quarter. State Street Corp now owns 1,012,715 shares of the company’s stock valued at $26,565,000 after buying an additional 25,176 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.
Navistar International Corporation Company Profile
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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