Oshkosh Co. (OSK) To Go Ex-Dividend on May 10th

Oshkosh Co. (NYSE:OSK) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 13th will be paid a dividend of 0.46 per share on Tuesday, May 28th. This represents a $1.84 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 10th.

Oshkosh has increased its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Oshkosh has a payout ratio of 16.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Oshkosh to earn $11.11 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 16.6%.

Oshkosh Stock Performance

Shares of NYSE OSK opened at $117.58 on Friday. The stock has a fifty day moving average price of $117.49 and a two-hundred day moving average price of $107.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 1.43. The firm has a market cap of $7.71 billion, a P/E ratio of 11.25, a PEG ratio of 1.39 and a beta of 1.29. Oshkosh has a 1 year low of $72.09 and a 1 year high of $127.98.

Oshkosh (NYSE:OSK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.63. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.49 billion. Oshkosh had a return on equity of 20.39% and a net margin of 6.93%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $1.59 EPS. Research analysts forecast that Oshkosh will post 11.25 EPS for the current fiscal year.

Insider Activity

In other news, SVP Anupam Khare sold 4,234 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $111.38, for a total value of $471,582.92. Following the completion of the sale, the senior vice president now owns 13,499 shares in the company, valued at $1,503,518.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

OSK has been the subject of several research reports. Truist Financial raised their price objective on Oshkosh from $121.00 to $132.00 and gave the stock a “hold” rating in a research note on Friday. Morgan Stanley initiated coverage on Oshkosh in a research note on Monday, January 8th. They set an “equal weight” rating and a $102.00 price objective for the company. Robert W. Baird raised their price objective on Oshkosh from $140.00 to $158.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup raised their price objective on Oshkosh from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, TheStreet raised Oshkosh from a “c” rating to a “b-” rating in a research note on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Oshkosh currently has an average rating of “Moderate Buy” and a consensus target price of $123.50.

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.