FY2017 EPS Estimates for Navistar International Corporation Lifted by Jefferies Group (NAV)
Navistar International Corporation (NYSE:NAV) – Investment analysts at Jefferies Group upped their FY2017 earnings per share estimates for Navistar International Corporation in a research report issued on Wednesday. Jefferies Group analyst S. Volkmann now expects that the company will post earnings of ($0.59) per share for the year, up from their previous estimate of ($0.83). Jefferies Group has a “Positive” rating and a $47.00 price objective on the stock. Jefferies Group also issued estimates for Navistar International Corporation’s Q4 2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.15 EPS and FY2018 earnings at $2.00 EPS.
Navistar International Corporation (NYSE:NAV) last posted its earnings results on Wednesday, September 6th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.09. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.17 billion. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.42) EPS.
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NAV has been the subject of several other reports. Zacks Investment Research downgraded shares of Navistar International Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $27.00 price objective on shares of Navistar International Corporation in a report on Thursday, August 3rd. BidaskClub downgraded shares of Navistar International Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Royal Bank Of Canada upped their price objective on shares of Navistar International Corporation from $31.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Barclays PLC reaffirmed a “sell” rating and set a $20.00 price objective on shares of Navistar International Corporation in a report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.75.
Shares of Navistar International Corporation (NYSE NAV) opened at 38.20 on Friday. The stock’s market cap is $3.75 billion. The company’s 50-day moving average is $31.43 and its 200 day moving average is $27.77. Navistar International Corporation has a 1-year low of $18.07 and a 1-year high of $38.65.
In related news, major shareholder Truck & Bus Gmbh Volkswagen bought 24,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $29.95 per share, for a total transaction of $745,755.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have purchased 499,781 shares of company stock valued at $14,693,815. Corporate insiders own 21.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Gamco Investors INC. ET AL acquired a new position in shares of Navistar International Corporation in the 2nd quarter valued at $175,453,000. Vanguard Group Inc. raised its stake in shares of Navistar International Corporation by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,219,294 shares of the company’s stock valued at $110,673,000 after buying an additional 96,310 shares in the last quarter. Ardevora Asset Management LLP raised its stake in shares of Navistar International Corporation by 32.1% in the 2nd quarter. Ardevora Asset Management LLP now owns 1,361,100 shares of the company’s stock valued at $35,702,000 after buying an additional 330,700 shares in the last quarter. Impala Asset Management LLC acquired a new position in shares of Navistar International Corporation in the 2nd quarter valued at $29,727,000. Finally, State Street Corp raised its stake in shares of Navistar International Corporation by 2.5% in the 2nd quarter. State Street Corp now owns 1,012,715 shares of the company’s stock valued at $26,565,000 after buying an additional 25,176 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.
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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