Oshkosh Corp. (OSK) Releases FY16 Earnings Guidance
Oshkosh Corp. (NYSE:OSK) updated its FY16 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.85-3.00 for the period, compared to the Thomson Reuters consensus estimate of $2.78. The company issued revenue guidance of $6.1-6.2 billion, compared to the consensus revenue estimate of $6.10 billion.Oshkosh Corp. also updated its FY17 guidance to $3.00-3.40 EPS.
Several research firms have recently issued reports on OSK. Bank of America Corp. set a $62.00 price objective on shares of Oshkosh Corp. and gave the stock a buy rating in a research report on Saturday, September 17th. Stifel Nicolaus increased their price objective on shares of Oshkosh Corp. from $53.00 to $63.00 and gave the stock a buy rating in a research report on Friday, July 29th. Zacks Investment Research lowered shares of Oshkosh Corp. from a buy rating to a hold rating in a research report on Thursday, July 14th. RBC Capital Markets raised shares of Oshkosh Corp. from a sector perform rating to an outperform rating and increased their price objective for the stock from $46.00 to $63.00 in a research report on Friday, July 29th. Finally, Barrington Research increased their price objective on shares of Oshkosh Corp. from $54.00 to $62.00 and gave the stock an outperform rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Oshkosh Corp. presently has an average rating of Buy and an average target price of $52.53.
Oshkosh Corp. (NYSE:OSK) traded down 9.33% on Friday, hitting $51.59. 2,593,260 shares of the stock were exchanged. The stock has a market cap of $3.79 billion, a PE ratio of 18.92 and a beta of 1.98. The company’s 50 day moving average is $54.62 and its 200 day moving average is $47.07. Oshkosh Corp. has a 1-year low of $29.59 and a 1-year high of $57.75.
Oshkosh Corp. (NYSE:OSK) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.13. Oshkosh Corp. had a net margin of 3.36% and a return on equity of 11.02%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that Oshkosh Corp. will post $2.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Thursday, August 11th. Oshkosh Corp.’s dividend payout ratio is 27.94%.
In related news, VP R Scott Grennier sold 1,000 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $54.78, for a total transaction of $54,780.00. Following the transaction, the vice president now owns 6,336 shares of the company’s stock, valued at $347,086.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark M. Radue sold 3,133 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $54.37, for a total transaction of $170,341.21. Following the transaction, the vice president now directly owns 41,105 shares in the company, valued at approximately $2,234,878.85. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in OSK. Fort Washington Investment Advisors Inc OH raised its position in shares of Oshkosh Corp. by 7.6% in the second quarter. Fort Washington Investment Advisors Inc OH now owns 13,273 shares of the company’s stock worth $633,000 after buying an additional 943 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Oshkosh Corp. during the second quarter worth about $536,000. Comerica Bank raised its position in shares of Oshkosh Corp. by 1.3% in the second quarter. Comerica Bank now owns 111,365 shares of the company’s stock worth $5,938,000 after buying an additional 1,446 shares during the period. Alliancebernstein L.P. raised its position in shares of Oshkosh Corp. by 1.8% in the second quarter. Alliancebernstein L.P. now owns 2,237,863 shares of the company’s stock worth $106,768,000 after buying an additional 38,909 shares during the period. Finally, Commonwealth Bank of Australia raised its position in shares of Oshkosh Corp. by 9.4% in the second quarter. Commonwealth Bank of Australia now owns 15,089 shares of the company’s stock worth $721,000 after buying an additional 1,300 shares during the period. 95.60% of the stock is currently owned by institutional investors and hedge funds.
Oshkosh Corp. Company Profile
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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