Oshkosh (NYSE:OSK) Posts Earnings Results, Beats Expectations By $0.34 EPS

Oshkosh (NYSE:OSK) released its quarterly earnings data on Wednesday. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.34, Briefing.com reports. Oshkosh had a return on equity of 20.39% and a net margin of 6.93%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. Oshkosh updated its FY24 guidance to approx $11.75 EPS and its FY 2024 guidance to 11.750-11.750 EPS.

Oshkosh Stock Down 3.2 %

Shares of NYSE:OSK traded down $3.44 during midday trading on Thursday, hitting $105.21. The stock had a trading volume of 766,858 shares, compared to its average volume of 497,667. Oshkosh has a 12 month low of $86.10 and a 12 month high of $127.98. The company has a quick ratio of 0.76, a current ratio of 1.43 and a debt-to-equity ratio of 0.16. The business’s 50-day simple moving average is $108.89 and its 200-day simple moving average is $113.16. The company has a market cap of $6.88 billion, a P/E ratio of 10.07, a PEG ratio of 1.15 and a beta of 1.22.

Oshkosh Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, August 16th. Oshkosh’s dividend payout ratio (DPR) is 17.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OSK. JPMorgan Chase & Co. lowered their price target on Oshkosh from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus cut their target price on shares of Oshkosh from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com cut shares of Oshkosh from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Raymond James initiated coverage on Oshkosh in a research note on Friday, June 28th. They set an “outperform” rating and a $125.00 price objective on the stock. Finally, Bank of America boosted their target price on Oshkosh from $108.00 to $112.00 and gave the company an “underperform” rating in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $124.71.

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.