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

The Shyft Group (NASDAQ:SHYF) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.350-0.500 for the period, compared to the consensus EPS estimate of 0.430. The company issued revenue guidance of $800.0 million-$800.0 million, compared to the consensus revenue estimate of $811.7 million. The Shyft Group also updated its FY24 guidance to $0.35-0.50 EPS.

Analysts Set New Price Targets

Separately, DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $18.00 in a report on Monday, July 29th.

The Shyft Group Stock Performance

Shares of SHYF stock opened at $11.74 on Thursday. The Shyft Group has a 12-month low of $9.81 and a 12-month high of $17.56. The business’s 50 day moving average is $12.74 and its two-hundred day moving average is $12.43. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.26.

The Shyft Group (NASDAQ:SHYF) last announced its earnings results on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $192.80 million for the quarter, compared to analyst estimates of $201.49 million. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The business’s revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. On average, equities analysts expect that The Shyft Group will post 0.29 earnings per share for the current fiscal year.

The Shyft Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Friday, August 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.70%. The Shyft Group’s dividend payout ratio (DPR) is -250.00%.

The Shyft Group Company Profile

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.