Gabelli Comments on Navistar International Corporation’s FY2017 Earnings (NAV)
Navistar International Corporation (NYSE:NAV) – Research analysts at Gabelli decreased their FY2017 earnings per share (EPS) estimates for shares of Navistar International Corporation in a note issued to investors on Thursday. Gabelli analyst B. Sponheimer now anticipates that the company will earn ($0.50) per share for the year, down from their previous forecast of ($0.45). Gabelli also issued estimates for Navistar International Corporation’s FY2018 earnings at $2.30 EPS, FY2019 earnings at $3.50 EPS, FY2020 earnings at $4.05 EPS and FY2021 earnings at $4.40 EPS.
Several other research analysts also recently weighed in on the company. Deutsche Bank AG upped their target price on Navistar International Corporation from $26.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday. Royal Bank Of Canada upped their target price on Navistar International Corporation from $31.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday. Jefferies Group LLC reaffirmed a “positive” rating and set a $47.00 target price (up from $35.00) on shares of Navistar International Corporation in a research note on Thursday. Robert W. Baird reaffirmed a “buy” rating on shares of Navistar International Corporation in a research note on Tuesday, September 5th. Finally, Zacks Investment Research raised Navistar International Corporation from a “strong sell” rating to a “hold” rating in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Navistar International Corporation has an average rating of “Hold” and a consensus target price of $31.73.
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Shares of Navistar International Corporation (NAV) opened at 38.89 on Monday. The firm’s 50-day moving average is $31.71 and its 200-day moving average is $27.85. The stock’s market capitalization is $3.82 billion. Navistar International Corporation has a one year low of $18.07 and a one year high of $39.00.
Navistar International Corporation (NYSE:NAV) last announced its quarterly earnings data on Wednesday, September 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the business earned ($0.42) earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year.
In other news, major shareholder Truck & Bus Gmbh Volkswagen acquired 43,501 shares of Navistar International Corporation stock in a transaction that occurred on Monday, July 17th. The stock was purchased at an average cost of $29.25 per share, with a total value of $1,272,404.25. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders purchased 499,781 shares of company stock valued at $14,693,815. 21.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Proxima Capital Management LLC raised its stake in Navistar International Corporation by 7.5% in the 2nd quarter. Proxima Capital Management LLC now owns 215,000 shares of the company’s stock valued at $5,639,000 after purchasing an additional 15,000 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Navistar International Corporation by 10.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,367 shares of the company’s stock valued at $115,000 after buying an additional 430 shares in the last quarter. Castleark Management LLC purchased a new stake in Navistar International Corporation in the 2nd quarter valued at $6,176,000. The Manufacturers Life Insurance Company grew its holdings in Navistar International Corporation by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,180 shares of the company’s stock valued at $1,054,000 after buying an additional 1,086 shares in the last quarter. Finally, State Street Corp grew its holdings in 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. 84.08% of the stock is owned by hedge funds and other institutional investors.
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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