Oshkosh (NYSE:OSK) Issues Quarterly Earnings Results

Oshkosh (NYSE:OSK) released its quarterly earnings data on Thursday. The company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.63, Briefing.com reports. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Oshkosh had a net margin of 6.19% and a return on equity of 18.75%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business 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 1.0 %

Shares of OSK traded down $1.16 during mid-day trading on Friday, hitting $117.53. 669,241 shares of the company traded hands, compared to its average volume of 503,117. Oshkosh has a 1-year low of $72.09 and a 1-year high of $127.98. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $7.71 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. The business has a 50 day moving average of $117.31 and a 200 day moving average of $106.91.

Oshkosh Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be issued a $0.46 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.84 dividend on an annualized basis and a yield of 1.57%. Oshkosh’s dividend payout ratio is presently 20.26%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OSK. Robert W. Baird lifted their price objective on shares of Oshkosh from $140.00 to $158.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial boosted their price target on shares of Oshkosh from $121.00 to $132.00 and gave the stock a “hold” rating in a research report on Friday. TheStreet upgraded shares of Oshkosh from a “c” rating to a “b-” rating in a research report on Tuesday, January 30th. Morgan Stanley initiated coverage on shares of Oshkosh in a research report on Monday, January 8th. They issued an “equal weight” rating and a $102.00 price target on the stock. Finally, DA Davidson raised shares of Oshkosh from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $122.00 to $130.00 in a research note on Friday, March 1st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Insider Activity

In other 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 transaction of $471,582.92. Following the transaction, the senior vice president now owns 13,499 shares in the company, valued at $1,503,518.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

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.