Oshkosh (NYSE:OSK) Issues FY 2024 Earnings Guidance

Oshkosh (NYSE:OSK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 11.250-11.250 for the period, compared to the consensus EPS estimate of 10.360. The company issued revenue guidance of $10.7 billion-$10.7 billion, compared to the consensus revenue estimate of $10.3 billion. Oshkosh also updated its FY24 guidance to $11.25 EPS.

Oshkosh Stock Performance

NYSE:OSK traded down $1.11 during mid-day trading on Friday, hitting $117.58. 965,198 shares of the stock were exchanged, compared to its average volume of 507,017. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. The firm’s 50-day simple moving average is $117.49 and its 200 day simple moving average is $107.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 1.45. Oshkosh has a fifty-two week low of $72.09 and a fifty-two week high of $127.98.

Oshkosh (NYSE:OSK) last released its quarterly earnings results on Thursday, April 25th. The company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.63. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Oshkosh had a return on equity of 18.75% and a net margin of 6.19%. The firm’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 EPS. As a group, equities analysts anticipate that Oshkosh will post 10.33 EPS for the current fiscal year.

Oshkosh Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 13th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.84 annualized dividend and a yield of 1.56%. Oshkosh’s payout ratio is currently 20.26%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com lowered Oshkosh from a buy rating to a hold rating in a research note on Friday. Truist Financial raised their price objective on Oshkosh from $121.00 to $132.00 and gave the company a hold rating in a report on Friday. Morgan Stanley initiated coverage on Oshkosh in a report on Monday, January 8th. They set an equal weight rating and a $102.00 price objective on the stock. Robert W. Baird lifted their target price on Oshkosh from $140.00 to $158.00 and gave the stock an outperform rating in a report on Friday. Finally, Stifel Nicolaus lifted their target price on Oshkosh from $135.00 to $140.00 and gave the stock a buy rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Oshkosh has a consensus rating of Moderate Buy and an average target price of $123.50.

Insiders Place Their Bets

In other Oshkosh news, SVP Anupam Khare sold 4,234 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $111.38, for a total transaction 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 approximately $1,503,518.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.