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

Oshkosh (NYSE:OSK) announced its quarterly earnings data on Thursday. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.63, Briefing.com reports. Oshkosh had a return on equity of 20.39% and a net margin of 6.93%. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company earned $1.59 earnings per share. 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 Price Performance

NYSE:OSK traded down $1.03 during midday trading on Friday, hitting $117.66. The company had a trading volume of 965,211 shares, compared to its average volume of 410,834. The stock’s fifty day moving average price is $117.49 and its 200-day moving average price is $107.16. Oshkosh has a 52-week low of $72.09 and a 52-week 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 company has a market capitalization of $7.72 billion, a PE ratio of 11.26, a P/E/G ratio of 1.38 and a beta of 1.29.

Oshkosh Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, May 10th. Oshkosh’s dividend payout ratio is currently 17.61%.

Insider Buying and Selling at Oshkosh

In other news, SVP Anupam Khare sold 4,234 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $111.38, for a total transaction of $471,582.92. Following the transaction, the senior vice president now directly owns 13,499 shares in the company, valued at approximately $1,503,518.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

OSK has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on shares of Oshkosh from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Truist Financial raised their price objective on shares of Oshkosh from $121.00 to $132.00 and gave the stock a “hold” rating in a report on Friday. UBS Group boosted their target price on shares of Oshkosh from $117.00 to $129.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Evercore ISI raised their price target on Oshkosh from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, DA Davidson upgraded Oshkosh from a “neutral” rating to a “buy” rating and lifted their price target for the company from $122.00 to $130.00 in a research report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Oshkosh currently has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Oshkosh Company Profile

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.