REV Group (NYSE:REVG) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

REV Group (NYSE:REVG) announced its quarterly earnings results on Wednesday. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06, Briefing.com reports. REV Group had a return on equity of 16.85% and a net margin of 9.41%. The firm had revenue of $579.40 million during the quarter, compared to analyst estimates of $618.70 million. During the same quarter in the previous year, the business earned $0.31 EPS. REV Group’s revenue for the quarter was down 14.8% compared to the same quarter last year. REV Group updated its FY 2024 guidance to EPS.

REV Group Price Performance

REVG stock opened at $25.92 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.75 and a quick ratio of 0.53. The business has a 50 day simple moving average of $27.50 and a 200-day simple moving average of $24.58. The firm has a market capitalization of $1.35 billion, a PE ratio of 6.34 and a beta of 1.59. REV Group has a 1 year low of $12.71 and a 1 year high of $31.85.

REV Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. REV Group’s dividend payout ratio (DPR) is presently 4.89%.

Analyst Ratings Changes

Several brokerages recently weighed in on REVG. StockNews.com lowered REV Group from a “buy” rating to a “hold” rating in a research note on Thursday. DA Davidson reiterated a “buy” rating and set a $33.00 price objective on shares of REV Group in a research note on Thursday. The Goldman Sachs Group boosted their price objective on REV Group from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Thursday. Finally, Morgan Stanley assumed coverage on REV Group in a research note on Tuesday, June 11th. They set an “equal weight” rating and a $29.50 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.10.

REV Group Company Profile

REV Group, Inc, together with its subsidiaries, designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Canada, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment provides fire apparatus equipment under the Emergency One, Kovatch Mobile Equipment, Ferrara, Spartan Emergency Response, Smeal, Spartan Fire Chassis, and Ladder Tower brand names; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brand names.