Winnebago Analysts Cut Their Forecasts After Q3 Results
Portfolio Pulse from Avi Kapoor
Winnebago Industries, Inc. (NYSE:WGO) reported disappointing Q3 results, missing both earnings and revenue estimates. Despite challenges in the Motorhome segment, the Towable RV business showed growth. Analysts from Baird and BMO Capital cut their price targets but maintained Outperform ratings. The company also announced a quarterly dividend and upcoming product releases.
June 21, 2024 | 12:59 pm
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NEGATIVE IMPACT
Winnebago Industries reported Q3 earnings and revenue below expectations, leading to a 3.5% drop in share price. Analysts from Baird and BMO Capital cut their price targets but maintained Outperform ratings. The company announced a quarterly dividend and new product releases.
The missed earnings and revenue estimates are likely to negatively impact the stock price in the short term. However, the maintained Outperform ratings and upcoming product releases may provide some support. The dividend announcement is a positive but may not offset the immediate negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100