The Shyft Group (NASDAQ:SHYF) Issues FY24 Earnings Guidance

The Shyft Group (NASDAQ:SHYF) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.28-0.51 for the period, compared to the consensus EPS estimate of $0.39. The company issued revenue guidance of $850-900 million, compared to the consensus revenue estimate of $864.01 million. The Shyft Group also updated its FY 2024 guidance to 0.280-0.510 EPS.

The Shyft Group Trading Up 0.3 %

SHYF traded up $0.03 during trading on Friday, reaching $11.26. 383,774 shares of the company’s stock were exchanged, compared to its average volume of 285,224. The stock has a market capitalization of $386.56 million, a PE ratio of 61.89 and a beta of 1.67. The firm has a fifty day moving average price of $11.21 and a two-hundred day moving average price of $11.55. The company has a current ratio of 1.57, a quick ratio of 0.99 and a debt-to-equity ratio of 0.20. The Shyft Group has a one year low of $9.81 and a one year high of $27.36.

The Shyft Group (NASDAQ:SHYF) last announced its earnings results on Thursday, February 22nd. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The Shyft Group had a return on equity of 4.91% and a net margin of 0.74%. The firm had revenue of $202.33 million for the quarter, compared to the consensus estimate of $205.40 million. As a group, equities research analysts forecast that The Shyft Group will post 0.28 earnings per share for the current fiscal year.

The Shyft Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, February 16th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.20 annualized dividend and a yield of 1.78%. The Shyft Group’s dividend payout ratio is currently 111.12%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their price objective on shares of The Shyft Group from $13.00 to $12.00 and set a neutral rating for the company in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Shyft Group currently has an average rating of Moderate Buy and a consensus target price of $14.00.

Insider Buying and Selling at The Shyft Group

In other The Shyft Group news, CEO John Albert Dunn bought 4,545 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $11.00 per share, for a total transaction of $49,995.00. Following the acquisition, the chief executive officer now directly owns 35,894 shares of the company’s stock, valued at approximately $394,834. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.54% of the company’s stock.

About The Shyft Group

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.