Navistar (NAV) Posts Wider Q2 Loss of $0.86/Share, Maintains FY Outlook
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Go back to Navistar (NAV) Posts Wider Q2 Loss of $0.86/Share, Maintains FY Outlook
June 8, 2017 9:38 AM EDT
Baird raised its price target on Navistar International (NYSE: NAV) to $37.00 (from $33.00) while maintaining a Outperform rating following the company's 2Q earnings report. Better second half offsets Q2 shortfall with no meaningful changes to long-term model. Target price moves higher on lower discount rate... More
June 8, 2017 8:37 AM EDT
Stifel raised its price target on Navistar International (NYSE: NAV) to $26.00 (from $24.00) while maintaining a Hold rating, following the company's second quarter earnings report.
Analyst Michael J. Baudendistel notes that management offered mixed results as earnings per share print came in below consensus, while... More
June 7, 2017 6:25 AM EDT
By Arunima Banerjee
(Reuters) - Navistar International Corp (NYSE: NAV) posted a quarterly loss, compared with a year-ago profit, partly due to a $60 million charge related to used-truck inventories and said it expected overall market conditions to improve in the second half.
The truck and engine maker's shares were down 1.5 percent at $29.47 on Wednesday.
Revenue in Navistar's truck business, its biggest, fell 5.5 percent to $1.40 billion in the second quarter ended April 30.
The results come in the backdrop of improving heavy truck orders. The orders had been declining as trucking companies... More
