Oshkosh (OSK) Shares Gap Up on Better-Than-Expected Earnings

Oshkosh Corp (NYSE:OSK)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $75.82, but opened at $68.16. Oshkosh shares last traded at $63.81, with a volume of 85260 shares traded.

The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.35. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.98 billion. Oshkosh had a return on equity of 19.19% and a net margin of 5.44%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 EPS.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a dividend of $0.27 per share. This is an increase from Oshkosh’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, November 16th. This represents a $1.08 annualized dividend and a dividend yield of 1.67%. Oshkosh’s dividend payout ratio is presently 22.59%.

Several brokerages have commented on OSK. SunTrust Banks raised their target price on Oshkosh to $96.00 and gave the stock a “buy” rating in a research note on Friday. ValuEngine upgraded Oshkosh from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded Oshkosh from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Deutsche Bank set a $77.00 target price on Oshkosh and gave the stock a “hold” rating in a research note on Wednesday, September 5th. Finally, Buckingham Research began coverage on Oshkosh in a research note on Tuesday, August 28th. They issued a “neutral” rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $86.75.

In other Oshkosh news, VP David M. Sagehorn sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $75.40, for a total value of $3,393,000.00. Following the completion of the transaction, the vice president now owns 179,097 shares in the company, valued at approximately $13,503,913.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Ayalon Holdings Ltd. purchased a new stake in shares of Oshkosh in the 3rd quarter valued at about $125,000. Trilogy Capital Inc. purchased a new position in shares of Oshkosh during the 3rd quarter valued at about $199,000. Cornerstone Wealth Management LLC purchased a new position in shares of Oshkosh during the 2nd quarter valued at about $200,000. Sawtooth Solutions LLC purchased a new position in shares of Oshkosh during the 2nd quarter valued at about $202,000. Finally, Trexquant Investment LP purchased a new position in shares of Oshkosh during the 2nd quarter valued at about $218,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.46 and a beta of 1.48. The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 0.34.

About Oshkosh (NYSE:OSK)

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; and chassis and service parts sales.

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