Oshkosh (NYSE:OSK) Releases Quarterly Earnings Results, Beats Estimates By $0.63 EPS

Oshkosh (NYSE:OSK) announced its quarterly earnings results on Thursday. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.63, Briefing.com reports. Oshkosh had a return on equity of 18.75% and a net margin of 6.19%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the company earned $1.59 EPS. Oshkosh’s revenue was up 12.2% compared to the same quarter last year. Oshkosh updated its FY24 guidance to $11.25 EPS and its FY 2024 guidance to 11.250-11.250 EPS.

Oshkosh Stock Down 0.5 %

Oshkosh stock traded down $0.62 during midday trading on Friday, reaching $118.07. The stock had a trading volume of 533,939 shares, compared to its average volume of 501,271. Oshkosh has a 12 month low of $72.09 and a 12 month high of $127.98. The company has a market capitalization of $7.74 billion, a P/E ratio of 12.97, a PEG ratio of 1.54 and a beta of 1.29. The company has a fifty day moving average price of $117.31 and a two-hundred day moving average price of $106.91. The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16.

Oshkosh Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, May 10th. Oshkosh’s dividend payout ratio (DPR) is presently 20.26%.

Insider Activity at Oshkosh

In related news, SVP Anupam Khare sold 4,234 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $111.38, for a total value of $471,582.92. Following the completion of the sale, the senior vice president now directly owns 13,499 shares of the company’s stock, valued at approximately $1,503,518.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

OSK has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on Oshkosh from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. StockNews.com raised Oshkosh from a “hold” rating to a “buy” rating in a report on Monday, April 8th. Truist Financial raised their price objective on Oshkosh from $121.00 to $132.00 and gave the company a “hold” rating in a report on Friday. Morgan Stanley initiated coverage on Oshkosh in a report on Monday, January 8th. They set an “equal weight” rating and a $102.00 target price on the stock. Finally, DA Davidson raised Oshkosh from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $122.00 to $130.00 in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Oshkosh presently has an average rating of “Moderate Buy” and an average target price of $123.50.

About Oshkosh

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.