Zacks: Brokerages Expect Thor Industries, Inc. (THO) Will Post Earnings of $1.93 Per Share
Brokerages expect Thor Industries, Inc. (NYSE:THO) to announce $1.93 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Thor Industries’ earnings. The highest EPS estimate is $2.08 and the lowest is $1.85. Thor Industries posted earnings per share of $2.26 in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.6%. The company is expected to announce its next earnings results on Wednesday, September 26th.
According to Zacks, analysts expect that Thor Industries will report full-year earnings of $8.61 per share for the current year, with EPS estimates ranging from $8.32 to $8.97. For the next year, analysts expect that the company will post earnings of $9.26 per share, with EPS estimates ranging from $8.20 to $9.99. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Thor Industries.
THO has been the topic of a number of analyst reports. ValuEngine cut shares of Thor Industries from a “hold” rating to a “sell” rating in a research report on Saturday, May 12th. BMO Capital Markets upgraded shares of Thor Industries from a “market perform” rating to an “outperform” rating and set a $102.00 price objective on the stock in a research report on Tuesday, May 1st. Zacks Investment Research upgraded shares of Thor Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. Stifel Nicolaus reiterated a “hold” rating and set a $124.00 price objective on shares of Thor Industries in a research report on Monday, June 4th. Finally, Sidoti cut their price objective on shares of Thor Industries from $148.00 to $144.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $128.50.
Thor Industries declared that its board has approved a share buyback program on Wednesday, June 20th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group grew its holdings in shares of Thor Industries by 623.6% in the second quarter. Schroder Investment Management Group now owns 390,000 shares of the construction company’s stock worth $37,853,000 after purchasing an additional 336,100 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Thor Industries by 175.2% in the second quarter. Advisors Asset Management Inc. now owns 61,667 shares of the construction company’s stock worth $1,925,000 after purchasing an additional 39,258 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Thor Industries by 15.8% in the second quarter. California Public Employees Retirement System now owns 136,744 shares of the construction company’s stock worth $13,317,000 after purchasing an additional 18,663 shares during the last quarter. Davy Asset Management Ltd bought a new position in shares of Thor Industries in the second quarter worth about $2,116,000. Finally, Castleark Management LLC grew its holdings in shares of Thor Industries by 25.0% in the second quarter. Castleark Management LLC now owns 136,151 shares of the construction company’s stock worth $13,260,000 after purchasing an additional 27,253 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.
About Thor Industries
Thor Industries, Inc, through its subsidiaries, designs, manufactures, and sells recreational vehicles, and related parts and accessories primarily in the United States and Canada. It operates through Towable Recreational Vehicles and Motorized Recreational Vehicles segments. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, and Basecamp trade names, as well as Interstate series of Class B motorhomes; gasoline and diesel Class A and Class C motorhomes under the Four Winds, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, A.C.E., Alante, Precept, Greyhawk, and Redhawk trade names; and luxury Class A motorhomes under Insignia, Aspire, Anthem, and Cornerstone trade names.
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