The Shyft Group (NASDAQ:SHYF) Releases FY 2024 Earnings Guidance

The Shyft Group (NASDAQ:SHYF) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.280-0.510 for the period, compared to the consensus earnings per share estimate of 0.390. The company issued revenue guidance of $850.0 million-$900.0 million, compared to the consensus revenue estimate of $864.0 million. The Shyft Group also updated its FY24 guidance to $0.28-0.51 EPS.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price target on 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 analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $14.00.

The Shyft Group Price Performance

SHYF traded up $0.03 during trading on Friday, reaching $11.26. The stock had a trading volume of 383,774 shares, compared to its average volume of 285,224. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.99 and a current ratio of 1.57. The business has a 50-day moving average of $11.21 and a 200-day moving average of $11.53. The Shyft Group has a one year low of $9.81 and a one year high of $27.36. The stock has a market cap of $386.56 million, a PE ratio of 62.56 and a beta of 1.67.

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

The Shyft Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, February 16th were paid a $0.05 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.78%. The Shyft Group’s dividend payout ratio (DPR) is 111.12%.

Insider Activity at The Shyft Group

In related news, CEO John Albert Dunn acquired 4,545 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $11.00 per share, for a total transaction of $49,995.00. Following the completion of the acquisition, the chief executive officer now owns 35,894 shares in the company, valued at $394,834. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.54% of the stock is owned by insiders.

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.