Oshkosh Corp (NYSE:OSK) – Research analysts at KeyCorp lowered their Q3 2019 earnings estimates for Oshkosh in a report released on Tuesday, April 30th, Zacks Investment Research reports. KeyCorp analyst S. Barger now anticipates that the company will post earnings of $2.45 per share for the quarter, down from their previous forecast of $2.48. KeyCorp also issued estimates for Oshkosh’s FY2019 earnings at $7.75 EPS and Q2 2020 earnings at $1.83 EPS.
OSK has been the subject of several other reports. Zacks Investment Research raised shares of Oshkosh from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Friday, February 1st. reaffirmed a “sell” rating on shares of Oshkosh in a report on Wednesday, February 13th. Citigroup raised their price objective on shares of Oshkosh from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. downgraded shares of Oshkosh from an “overweight” rating to a “neutral” rating and raised their price target for the company from $80.00 to $85.00 in a report on Wednesday, May 1st. Finally, ValuEngine raised shares of Oshkosh from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $85.21.
Oshkosh (NYSE:OSK) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.20. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. Oshkosh had a net margin of 6.76% and a return on equity of 21.98%. Oshkosh’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.54 EPS.
Hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its position in shares of Oshkosh by 3.3% in the fourth quarter. California Public Employees Retirement System now owns 161,313 shares of the company’s stock valued at $9,890,000 after acquiring an additional 5,181 shares during the period. Jane Street Group LLC purchased a new position in shares of Oshkosh in the fourth quarter valued at about $697,000. Segall Bryant & Hamill LLC increased its position in shares of Oshkosh by 2.8% in the fourth quarter. Segall Bryant & Hamill LLC now owns 42,405 shares of the company’s stock valued at $2,600,000 after acquiring an additional 1,135 shares during the period. Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of Oshkosh in the fourth quarter valued at about $981,000. Finally, Bank of New York Mellon Corp increased its position in shares of Oshkosh by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 892,149 shares of the company’s stock valued at $63,557,000 after acquiring an additional 22,252 shares during the period. Hedge funds and other institutional investors own 91.36% of the company’s stock.
In related news, VP R Scott Grennier sold 3,784 shares of Oshkosh stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $80.67, for a total value of $305,255.28. Following the transaction, the vice president now owns 4,780 shares in the company, valued at approximately $385,602.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John J. Bryant sold 4,819 shares of Oshkosh stock in a transaction 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 transaction, the executive vice president now owns 6,309 shares in the company, valued at approximately $491,155.65. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, May 15th. Oshkosh’s dividend payout ratio (DPR) is currently 16.98%.
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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