Oshkosh Corp (NYSE:OSK) – Equities research analysts at KeyCorp lowered their Q2 2020 earnings estimates for shares of Oshkosh in a report released on Tuesday, February 11th. KeyCorp analyst S. Barger now anticipates that the company will post earnings per share of $1.67 for the quarter, down from their prior estimate of $1.74. KeyCorp also issued estimates for Oshkosh’s Q3 2020 earnings at $2.33 EPS.
OSK has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on Oshkosh from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Goldman Sachs Group upgraded Oshkosh from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $66.00 to $90.00 in a report on Friday, November 8th. Longbow Research downgraded Oshkosh from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Oshkosh from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, Deutsche Bank lifted their price objective on Oshkosh from $86.00 to $96.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $94.08.
Oshkosh (NYSE:OSK) last released its quarterly earnings data on Wednesday, January 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.06). Oshkosh had a return on equity of 21.05% and a net margin of 6.60%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. Oshkosh’s quarterly revenue was down 6.0% compared to the same quarter last year.
Several hedge funds have recently bought and sold shares of OSK. Executive Wealth Management LLC lifted its position in shares of Oshkosh by 70.6% during the 3rd quarter. Executive Wealth Management LLC now owns 343 shares of the company’s stock valued at $26,000 after buying an additional 142 shares in the last quarter. Gradient Investments LLC purchased a new position in shares of Oshkosh during the 4th quarter valued at about $37,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Oshkosh during the 3rd quarter valued at about $39,000. Cullen Frost Bankers Inc. purchased a new position in shares of Oshkosh during the 4th quarter valued at about $47,000. Finally, First Mercantile Trust Co. lifted its position in shares of Oshkosh by 30.5% during the 4th quarter. First Mercantile Trust Co. now owns 547 shares of the company’s stock valued at $52,000 after buying an additional 128 shares in the last quarter. 90.10% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO David M. Sagehorn sold 22,775 shares of Oshkosh stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $88.65, for a total transaction of $2,019,003.75. Following the transaction, the chief financial officer now directly owns 183,573 shares of the company’s stock, valued at approximately $16,273,746.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John J. Bryant sold 10,036 shares of Oshkosh stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $89.39, for a total value of $897,118.04. Following the transaction, the executive vice president now directly owns 15,559 shares in the company, valued at $1,390,819.01. The disclosure for this sale can be found here. Insiders sold 197,024 shares of company stock worth $18,065,604 over the last three months. Insiders own 1.80% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.41%. Oshkosh’s payout ratio is 14.44%.
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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