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

The Shyft Group (NASDAQ:SHYF) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.28-0.51 for the period, compared to the consensus 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 stock traded up $0.03 during trading on Friday, hitting $11.26. 383,774 shares of the company traded hands, 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 Shyft Group has a 1 year low of $9.81 and a 1 year high of $27.36. The company has a 50-day moving average of $11.21 and a 200-day moving average of $11.55. The firm has a market capitalization of $386.56 million, a PE ratio of 61.89 and a beta of 1.67.

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

The Shyft Group Dividend Announcement

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 $0.05 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. The Shyft Group’s payout ratio is presently 111.12%.

Analyst Upgrades and Downgrades

Separately, DA Davidson lowered 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 equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Shyft Group currently has an average rating of Moderate Buy and an average target price of $14.00.

Insider Buying and Selling at The Shyft Group

In related news, CEO John Albert Dunn bought 4,545 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $11.00 per share, with a total value of $49,995.00. Following the purchase, the chief executive officer now owns 35,894 shares of the company’s stock, valued at approximately $394,834. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.54% of the company’s stock.

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.