Q3 2019 EPS Estimates for Thor Industries, Inc. (THO) Cut by SunTrust Banks
Thor Industries, Inc. (NYSE:THO) – Equities research analysts at SunTrust Banks lowered their Q3 2019 earnings estimates for shares of Thor Industries in a research report issued to clients and investors on Thursday, September 20th. SunTrust Banks analyst M. Swartz now forecasts that the construction company will earn $2.88 per share for the quarter, down from their previous forecast of $2.90. SunTrust Banks also issued estimates for Thor Industries’ Q4 2019 earnings at $2.40 EPS and FY2020 earnings at $10.00 EPS.
A number of other research analysts have also weighed in on the company. Northcoast Research reaffirmed a “buy” rating on shares of Thor Industries in a research report on Friday, August 17th. Zacks Investment Research lowered Thor Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Sidoti reduced their price objective on Thor Industries from $148.00 to $144.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $124.00 price objective on shares of Thor Industries in a research report on Monday, June 4th. Finally, ValuEngine lowered Thor Industries from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Thor Industries presently has an average rating of “Buy” and a consensus price target of $128.43.
Thor Industries (NYSE:THO) last posted its quarterly earnings data on Thursday, September 20th. The construction company reported $1.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.03 by ($0.36). Thor Industries had a net margin of 5.16% and a return on equity of 24.97%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business earned $2.26 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis.
Institutional investors and hedge funds have recently modified their holdings of the business. Private Capital Group LLC boosted its stake in Thor Industries by 351.7% during the 2nd quarter. Private Capital Group LLC now owns 1,084 shares of the construction company’s stock valued at $105,000 after purchasing an additional 844 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Thor Industries during the 1st quarter valued at $146,000. Itau Unibanco Holding S.A. boosted its stake in Thor Industries by 282.9% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,589 shares of the construction company’s stock valued at $155,000 after purchasing an additional 1,174 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in Thor Industries during the 1st quarter valued at $170,000. Finally, Cerebellum GP LLC purchased a new stake in Thor Industries during the 2nd quarter valued at $173,000. Institutional investors and hedge funds own 87.94% of the company’s stock.
Thor Industries announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 20th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
About Thor Industries
Thor Industries, Inc, through its subsidiaries, designs, manufactures, and sells recreational vehicles, and related parts and accessories primarily in the United States and Canada. It operates through Towable Recreational Vehicles and Motorized Recreational Vehicles segments. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, and Basecamp trade names, as well as Interstate series of Class B motorhomes; gasoline and diesel Class A and Class C motorhomes under the Four Winds, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, A.C.E., Alante, Precept, Greyhawk, and Redhawk trade names; and luxury Class A motorhomes under Insignia, Aspire, Anthem, and Cornerstone trade names.
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