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

Oshkosh (NYSE:OSK) posted its earnings results on Thursday. The company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.63, Briefing.com reports. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.49 billion. Oshkosh had a net margin of 6.93% and a return on equity of 20.39%. Oshkosh’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. Oshkosh updated its FY24 guidance to $11.25 EPS and its FY 2024 guidance to 11.250-11.250 EPS.

Oshkosh Stock Down 0.9 %

Shares of OSK stock traded down $1.03 during mid-day trading on Friday, hitting $117.66. The stock had a trading volume of 965,211 shares, compared to its average volume of 410,834. Oshkosh has a 12-month low of $72.09 and a 12-month high of $127.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.43 and a quick ratio of 0.76. The firm’s 50-day moving average is $117.49 and its two-hundred day moving average is $107.16. The firm has a market capitalization of $7.72 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29.

Oshkosh Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OSK shares. Truist Financial lifted their price objective on shares of Oshkosh from $121.00 to $132.00 and gave the stock a “hold” rating in a research note on Friday. StockNews.com cut Oshkosh from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley started coverage on Oshkosh in a research note on Monday, January 8th. They issued an “equal weight” rating and a $102.00 price objective for the company. Citigroup lifted their target price on Oshkosh from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Evercore ISI increased their price target on Oshkosh from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Oshkosh currently has an average rating of “Moderate Buy” and a consensus target price of $123.50.

Insider Activity

In related news, SVP Anupam Khare sold 4,234 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $111.38, for a total value of $471,582.92. Following the completion of the sale, the senior vice president now directly owns 13,499 shares of the company’s stock, valued at $1,503,518.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.64% of the company’s stock.

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.