Brokerages Anticipate Navistar International (NAV) Will Post Quarterly Sales of $2.47 Billion

Wall Street brokerages forecast that Navistar International (NYSE:NAV) will post $2.47 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Navistar International’s earnings, with estimates ranging from $2.34 billion to $2.65 billion. Navistar International reported sales of $2.10 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 17.6%. The company is expected to issue its next earnings report on Wednesday, June 6th.

On average, analysts expect that Navistar International will report full-year sales of $9.67 billion for the current financial year, with estimates ranging from $9.26 billion to $9.90 billion. For the next year, analysts expect that the firm will report sales of $10.36 billion per share, with estimates ranging from $9.97 billion to $10.66 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Navistar International.

Navistar International (NYSE:NAV) last released its quarterly earnings results on Thursday, March 8th. The company reported ($0.24) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.17. Navistar International had a net margin of 0.22% and a negative return on equity of 1.78%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the firm earned ($0.76) earnings per share. Navistar International’s revenue was up 14.6% compared to the same quarter last year.

Several analysts have recently commented on the stock. Susquehanna Bancshares set a $49.00 price target on shares of Navistar International and gave the company a “buy” rating in a research note on Friday, March 9th. Robert W. Baird reissued a “buy” rating and set a $53.00 price target on shares of Navistar International in a research note on Thursday, March 8th. Stifel Nicolaus set a $52.00 price target on shares of Navistar International and gave the company a “buy” rating in a research note on Friday, February 9th. Zacks Investment Research raised shares of Navistar International from a “sell” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, February 20th. Finally, Piper Jaffray set a $44.00 price target on shares of Navistar International and gave the company a “buy” rating in a research note on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.75.

Shares of NAV traded up $0.58 during mid-day trading on Friday, hitting $39.27. 392,649 shares of the company traded hands, compared to its average volume of 897,086. Navistar International has a one year low of $38.19 and a one year high of $38.55. The company has a debt-to-equity ratio of -0.91, a current ratio of 1.22 and a quick ratio of 0.91. The stock has a market capitalization of $3.75 billion, a P/E ratio of 77.00, a price-to-earnings-growth ratio of 3.81 and a beta of 2.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in NAV. Millennium Management LLC lifted its holdings in Navistar International by 230.7% in the fourth quarter. Millennium Management LLC now owns 986,631 shares of the company’s stock valued at $42,307,000 after buying an additional 688,259 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Navistar International during the fourth quarter worth $28,833,000. Point72 Asset Management L.P. increased its position in shares of Navistar International by 426.1% during the first quarter. Point72 Asset Management L.P. now owns 409,800 shares of the company’s stock worth $14,331,000 after acquiring an additional 331,900 shares in the last quarter. J. Goldman & Co LP increased its position in shares of Navistar International by 178.5% during the fourth quarter. J. Goldman & Co LP now owns 444,039 shares of the company’s stock worth $19,040,000 after acquiring an additional 284,604 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new position in Navistar International in the first quarter valued at $4,668,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

About Navistar International

Navistar International Corporation manufactures and sells commercial and military trucks, diesel engines, school and commercial buses, and service parts for trucks and diesel engines worldwide. The company operates through four segments: Truck, Parts, Global Operations, and Financial Services. It manufactures and distributes Class 4 through 8 trucks and buses in the common carrier, private carrier, government, leasing, construction, energy/petroleum, military vehicle, and student and commercial transportation markets under the International and IC brands; and designs, engineers, and produces sheet metal components, including truck cabs and engines.

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Earnings History and Estimates for Navistar International (NYSE:NAV)

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