Brokerages Expect Navistar International Corporation (NAV) Will Post Quarterly Sales of $2.15 Billion
Wall Street analysts forecast that Navistar International Corporation (NYSE:NAV) will post sales of $2.15 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Navistar International Corporation’s earnings, with the lowest sales estimate coming in at $1.99 billion and the highest estimate coming in at $2.25 billion. Navistar International Corporation posted sales of $2.09 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The business is expected to announce its next earnings report on Thursday, September 14th.
According to Zacks, analysts expect that Navistar International Corporation will report full year sales of $2.15 billion for the current financial year, with estimates ranging from $7.78 billion to $8.37 billion. For the next financial year, analysts anticipate that the business will report sales of $8.77 billion per share, with estimates ranging from $8.27 billion to $9.23 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Navistar International Corporation.
Navistar International Corporation (NYSE:NAV) last issued its quarterly earnings data on Wednesday, June 7th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.65. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis.
NAV has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $35.00 target price on shares of Navistar International Corporation in a research report on Friday, July 21st. BidaskClub upgraded shares of Navistar International Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Stifel Nicolaus restated a “hold” rating and set a $26.00 target price (up from $24.00) on shares of Navistar International Corporation in a research report on Friday, June 9th. Royal Bank Of Canada restated a “hold” rating and set a $28.00 target price on shares of Navistar International Corporation in a research report on Tuesday, May 9th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $27.00 target price on shares of Navistar International Corporation in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Navistar International Corporation currently has an average rating of “Hold” and an average target price of $27.29.
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In other Navistar International Corporation news, major shareholder Truck & Bus Gmbh Volkswagen bought 24,800 shares of Navistar International Corporation stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $29.95 per share, with a total value of $742,760.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders acquired 434,864 shares of company stock valued at $12,752,006. 21.80% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. increased its stake in Navistar International Corporation by 1.2% in the second quarter. Hanseatic Management Services Inc. now owns 7,036 shares of the company’s stock worth $185,000 after buying an additional 81 shares during the period. UBS Asset Management Americas Inc. increased its stake in Navistar International Corporation by 0.4% in the second quarter. UBS Asset Management Americas Inc. now owns 43,996 shares of the company’s stock worth $1,154,000 after buying an additional 176 shares during the period. Oppenheimer & Co. Inc. increased its stake in Navistar International Corporation by 2.3% in the first quarter. Oppenheimer & Co. Inc. now owns 11,720 shares of the company’s stock worth $289,000 after buying an additional 264 shares during the period. Creative Planning increased its stake in Navistar International Corporation by 7.7% in the second quarter. Creative Planning now owns 5,464 shares of the company’s stock worth $143,000 after buying an additional 389 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in Navistar International Corporation by 10.9% in the second quarter. Ameritas Investment Partners Inc. now owns 4,367 shares of the company’s stock worth $115,000 after buying an additional 430 shares during the period. 82.37% of the stock is owned by institutional investors.
Shares of Navistar International Corporation (NAV) traded down 0.16% during mid-day trading on Friday, reaching $30.35. 500,076 shares of the company’s stock traded hands. The firm’s market cap is $2.98 billion. Navistar International Corporation has a one year low of $13.30 and a one year high of $33.46. The firm’s 50-day moving average is $29.55 and its 200 day moving average is $27.25.
About Navistar International Corporation
Navistar International Corporation is a holding company whose principal operating entities are Navistar, Inc and Navistar Financial Corporation (NFC). The Company’s segments include Truck, Parts, Global Operations (collectively, Manufacturing operations) and Financial Services, which consists of NFC and its foreign finance operations (collectively, Financial Services operations).
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