Oshkosh Co. to Post Q3 2023 Earnings of $1.57 Per Share, Zacks Research Forecasts (NYSE:OSK)

Posted by Nicole Kennedy on Mar 19th, 2023

Oshkosh Co. (NYSE:OSK – Get Rating) – Research analysts at Zacks Research increased their Q3 2023 earnings estimates for shares of Oshkosh in a report released on Wednesday, March 15th. Zacks Research analyst R. Singhi now forecasts that the company will post earnings per share of $1.57 for the quarter, up from their prior estimate of $1.55. The consensus estimate for Oshkosh’s current full-year earnings is $5.53 per share. Zacks Research also issued estimates for Oshkosh’s Q4 2023 earnings at $1.52 EPS, FY2024 earnings at $7.19 EPS and FY2025 earnings at $8.86 EPS.

Oshkosh (NYSE:OSK – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.13). Oshkosh had a return on equity of 7.18% and a net margin of 1.92%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the firm earned $0.09 EPS. The business’s quarterly revenue was up 23.0% on a year-over-year basis.

Several other brokerages have also weighed in on OSK. Robert W. Baird raised their price objective on shares of Oshkosh from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, February 1st. StockNews.com initiated coverage on shares of Oshkosh in a report on Thursday. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Oshkosh from $95.00 to $103.00 in a report on Monday, December 5th. Morgan Stanley raised their price objective on shares of Oshkosh from $98.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, December 14th. Finally, Credit Suisse Group raised their price objective on shares of Oshkosh from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Oshkosh currently has an average rating of “Moderate Buy” and an average price target of $102.71.

Oshkosh Stock Performance

Oshkosh stock opened at $78.66 on Friday. Oshkosh has a 12-month low of $69.30 and a 12-month high of $111.18. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 0.41 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.87 and a quick ratio of 1.10. The firm’s fifty day moving average price is $93.09 and its 200 day moving average price is $87.08.

Oshkosh Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 2nd. Investors of record on Thursday, February 16th were given a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, February 15th. This is an increase from Oshkosh’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 2.08%. Oshkosh’s dividend payout ratio (DPR) is currently 67.77%.

Insider Activity at Oshkosh

In related news, SVP Jason P. Baab sold 1,000 shares of Oshkosh stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $89.00, for a total value of $89,000.00. Following the sale, the senior vice president now directly owns 1,352 shares in the company, valued at approximately $120,328. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Oshkosh

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Romano Brothers AND Company bought a new stake in shares of Oshkosh during the 4th quarter worth about $26,000. SeaCrest Wealth Management LLC bought a new stake in shares of Oshkosh during the 2nd quarter worth about $26,000. Money Concepts Capital Corp raised its position in shares of Oshkosh by 1,359.1% during the 4th quarter. Money Concepts Capital Corp now owns 321 shares of the company’s stock worth $28,000 after buying an additional 299 shares in the last quarter. New Century Advisors LLC raised its position in shares of Oshkosh by 137.2% during the 3rd quarter. New Century Advisors LLC now owns 351 shares of the company’s stock worth $25,000 after buying an additional 203 shares in the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Oshkosh by 89.6% during the 3rd quarter. Valley National Advisers Inc. now owns 400 shares of the company’s stock worth $32,000 after buying an additional 189 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.

Oshkosh Company Profile

(Get Rating)

Oshkosh Corp. engages in the design, manufacture, and marketing of specialty vehicles and vehicle bodies. It operates through the following segments: Access Equipment, Defense, Fire & Emergency, and Commercial. The Access Equipment segment consists of JerrDan and JLG, which manufactures aerial work platforms and telehandlers that are used in construction, industrial, institutional, and general maintenance applications to position workers and materials at elevated heights.