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 0.280-0.510 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Separately, DA Davidson decreased 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 note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $14.00.

The Shyft Group Trading Up 0.3 %

SHYF stock traded up $0.03 during trading on Friday, hitting $11.26. The company had a trading volume of 383,774 shares, compared to its average volume of 285,224. The Shyft Group has a 52-week low of $9.81 and a 52-week high of $27.36. The company has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $11.53. The firm has a market capitalization of $386.56 million, a P/E ratio of 62.56 and a beta of 1.67. The company has a quick ratio of 0.99, a current ratio of 1.57 and a debt-to-equity ratio of 0.20.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, February 22nd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $202.33 million for the quarter, compared to the consensus estimate of $205.40 million. As a group, 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 company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, February 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, February 15th. The Shyft Group’s dividend payout ratio (DPR) is presently 111.12%.

Insiders Place Their Bets

In other The Shyft Group news, CEO John Albert Dunn bought 4,545 shares of the company’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost 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 in the company, valued at $394,834. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.