$2.31 Billion in Sales Expected for Navistar International Corporation (NAV) This Quarter
Wall Street brokerages forecast that Navistar International Corporation (NYSE:NAV) will post $2.31 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Navistar International Corporation’s earnings, with estimates ranging from $2.22 billion to $2.38 billion. Navistar International Corporation posted sales of $2.06 billion in the same quarter last year, which would indicate a positive year over year growth rate of 12.1%. The company is scheduled to announce its next earnings report on Tuesday, December 19th.
On average, analysts expect that Navistar International Corporation will report full-year sales of $2.31 billion for the current financial year, with estimates ranging from $8.03 billion to $8.35 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $9.03 billion per share, with estimates ranging from $8.44 billion to $9.46 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Navistar International Corporation.
Navistar International Corporation (NYSE:NAV) last released its quarterly earnings results on Wednesday, September 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis.
Several equities analysts have recently commented on the stock. OTR Global raised shares of Navistar International Corporation to a “positive” rating in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Navistar International Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, October 10th. Wells Fargo & Company increased their price target on shares of Navistar International Corporation from $41.00 to $45.00 and gave the stock a “market perform” rating in a research report on Friday, October 6th. Aegis reaffirmed a “buy” rating and set a $50.00 price target (up previously from $45.00) on shares of Navistar International Corporation in a research report on Tuesday, September 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $47.00 price target on shares of Navistar International Corporation in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $36.08.
Navistar International Corporation (NYSE NAV) opened at 42.31 on Wednesday. The stock’s market capitalization is $4.15 billion. The stock’s 50 day moving average price is $42.23 and its 200 day moving average price is $32.19. Navistar International Corporation has a 52-week low of $22.36 and a 52-week high of $45.47.
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In other Navistar International Corporation news, Director Stephen R. D’arcy sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $44.34, for a total value of $44,340.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Truck & Bus Gmbh Volkswagen purchased 39,550 shares of the company’s stock in a transaction on Friday, August 18th. The stock was purchased at an average price of $29.92 per share, for a total transaction of $1,183,336.00. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its stake in shares of Navistar International Corporation by 1.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 245,730 shares of the company’s stock valued at $6,446,000 after purchasing an additional 2,492 shares during the period. Nationwide Fund Advisors increased its stake in shares of Navistar International Corporation by 27.0% in the second quarter. Nationwide Fund Advisors now owns 72,424 shares of the company’s stock valued at $1,900,000 after purchasing an additional 15,410 shares during the period. Impala Asset Management LLC acquired a new stake in shares of Navistar International Corporation in the second quarter valued at approximately $29,727,000. Geode Capital Management LLC increased its stake in shares of Navistar International Corporation by 9.2% in the first quarter. Geode Capital Management LLC now owns 469,179 shares of the company’s stock valued at $11,550,000 after purchasing an additional 39,499 shares during the period. Finally, Castleark Management LLC acquired a new stake in shares of Navistar International Corporation in the second quarter valued at approximately $6,176,000. Institutional investors own 83.93% 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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