Oshkosh (NYSE:OSK) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Oshkosh (NYSE:OSK – Get Rating) issued its quarterly earnings results on Wednesday. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.08, MarketWatch Earnings reports. Oshkosh had a return on equity of 10.32% and a net margin of 5.15%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company posted $1.48 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Oshkosh updated its FY22 guidance to $5.00-6.00 EPS.

Oshkosh stock traded down $1.39 during midday trading on Wednesday, reaching $92.97. The stock had a trading volume of 21,542 shares, compared to its average volume of 648,930. Oshkosh has a 12 month low of $93.06 and a 12 month high of $137.47. The company has a market capitalization of $6.21 billion, a P/E ratio of 15.41, a PEG ratio of 0.59 and a beta of 1.39. The company has a fifty day moving average price of $103.99 and a two-hundred day moving average price of $109.46. The company has a current ratio of 2.05, a quick ratio of 1.46 and a debt-to-equity ratio of 0.25.

In related news, SVP Thomas P. Hawkins sold 3,500 shares of the business’s stock in a transaction dated Monday, January 31st. The stock was sold at an average price of $112.47, for a total value of $393,645.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.64% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley increased its holdings in Oshkosh by 12.8% during the 2nd quarter. Morgan Stanley now owns 674,480 shares of the company’s stock worth $84,068,000 after purchasing an additional 76,717 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Oshkosh by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 473,487 shares of the company’s stock worth $53,367,000 after purchasing an additional 46,883 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Oshkosh by 0.5% during the 4th quarter. Parametric Portfolio Associates LLC now owns 323,198 shares of the company’s stock worth $36,428,000 after purchasing an additional 1,652 shares in the last quarter. Legal & General Group Plc increased its holdings in Oshkosh by 1.9% during the 4th quarter. Legal & General Group Plc now owns 155,278 shares of the company’s stock worth $17,502,000 after purchasing an additional 2,957 shares in the last quarter. Finally, Comerica Bank increased its holdings in Oshkosh by 23.7% during the 4th quarter. Comerica Bank now owns 38,933 shares of the company’s stock worth $4,546,000 after purchasing an additional 7,456 shares in the last quarter. 96.47% of the stock is owned by hedge funds and other institutional investors.

OSK has been the topic of several recent research reports. StockNews.com initiated coverage on Oshkosh in a report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James cut their price objective on Oshkosh from $135.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company initiated coverage on Oshkosh in a report on Friday, March 11th. They set an “equal weight” rating and a $117.00 price objective on the stock. Evercore ISI downgraded Oshkosh from an “outperform” rating to an “in-line” rating and set a $124.00 price objective on the stock. in a report on Tuesday, February 15th. Finally, Morgan Stanley cut their price objective on Oshkosh from $144.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, April 18th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $124.53.

Oshkosh Company Profile (Get Rating)

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 services; and chassis and service parts sales.

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