Thor Industries (NYSE:THO) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Thor Industries (NYSE:THO) released its earnings results on Wednesday. The RV manufacturer reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.02), Briefing.com reports. Thor Industries had a return on equity of 6.96% and a net margin of 3.02%.The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $2.53 EPS.

Thor Industries Price Performance

Shares of THO opened at $77.89 on Wednesday. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.55 and a beta of 1.32. The business has a 50-day moving average of $77.89 and a 200-day moving average of $95.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.76 and a quick ratio of 0.73. Thor Industries has a 1 year low of $70.56 and a 1 year high of $122.83.

Thor Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 6th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, April 6th. Thor Industries’s dividend payout ratio (DPR) is 64.60%.

Insiders Place Their Bets

In other Thor Industries news, Director Peter Busch Orthwein bought 2,600 shares of the stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $88.25 per share, for a total transaction of $229,450.00. Following the completion of the acquisition, the director owned 139,000 shares in the company, valued at $12,266,750. This trade represents a 1.91% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Thor Industries

A number of hedge funds have recently added to or reduced their stakes in THO. Dimensional Fund Advisors LP grew its stake in Thor Industries by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,050,494 shares of the RV manufacturer’s stock valued at $313,201,000 after acquiring an additional 48,157 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Thor Industries by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 651,077 shares of the RV manufacturer’s stock worth $66,846,000 after purchasing an additional 3,562 shares during the last quarter. Invesco Ltd. boosted its position in Thor Industries by 39.7% in the fourth quarter. Invesco Ltd. now owns 246,262 shares of the RV manufacturer’s stock worth $25,284,000 after purchasing an additional 70,042 shares during the last quarter. Cerity Partners LLC boosted its position in Thor Industries by 85.3% in the fourth quarter. Cerity Partners LLC now owns 141,542 shares of the RV manufacturer’s stock worth $14,532,000 after purchasing an additional 65,166 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Thor Industries by 1,942.2% in the fourth quarter. Millennium Management LLC now owns 130,418 shares of the RV manufacturer’s stock valued at $13,390,000 after buying an additional 124,032 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

THO has been the topic of several research analyst reports. Wall Street Zen lowered Thor Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. DA Davidson reduced their price objective on Thor Industries from $102.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 4th. Truist Financial reduced their price objective on Thor Industries from $112.00 to $109.00 and set a “hold” rating on the stock in a research note on Wednesday, March 11th. Seaport Research Partners initiated coverage on Thor Industries in a research note on Monday, April 20th. They issued a “neutral” rating on the stock. Finally, Citigroup reduced their price objective on Thor Industries from $100.00 to $82.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $108.11.

Thor Industries Company Profile

Thor Industries, Inc is a leading manufacturer of recreational vehicles (RVs) and related components for the leisure travel market. Through its family of well-known brands—such as Airstream, Heartland, Jayco, Keystone RV and Thor Motor Coach—the company designs, manufactures and sells a broad range of motorized and towable RVs, complemented by aftermarket parts and service solutions. Thor offers products that span travel trailers, fifth wheels, toy haulers and Class A, B and C motorhomes, addressing both entry-level and premium segments.

Founded in 1980 when Wade Thompson and Peter Orthwein acquired Airstream from Beatrice Foods, Thor Industries has grown organically and through strategic acquisitions to become one of the largest RV producers in the world.