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

Oshkosh (NYSE:OSK) issued its quarterly earnings results on Wednesday. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.34, Briefing.com reports. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.78 billion. Oshkosh had a return on equity of 20.83% and a net margin of 6.58%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted $2.69 EPS. Oshkosh updated its FY24 guidance to approx $11.75 EPS and its FY 2024 guidance to 11.750-11.750 EPS.

Oshkosh Stock Down 4.9 %

Oshkosh stock traded down $5.16 during mid-day trading on Friday, hitting $100.06. The company had a trading volume of 674,620 shares, compared to its average volume of 588,027. The company has a current ratio of 1.44, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $108.58 and its two-hundred day moving average price is $113.12. Oshkosh has a 12 month low of $86.10 and a 12 month high of $127.98. The company has a market capitalization of $6.51 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22.

Oshkosh Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, August 15th. Oshkosh’s dividend payout ratio (DPR) is 17.61%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OSK. Citigroup began coverage on Oshkosh in a report on Wednesday, June 26th. They set a “buy” rating and a $130.00 price objective on the stock. Raymond James began coverage on Oshkosh in a research note on Friday, June 28th. They issued an “outperform” rating and a $125.00 price target on the stock. Stifel Nicolaus decreased their price target on Oshkosh from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America lifted their price target on Oshkosh from $108.00 to $112.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group decreased their price target on Oshkosh from $135.00 to $105.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $124.75.

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.